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US puts India on currency watch list, labels Switzerland as manipulator

Others on the list include China, Japan, Korea, Germany, Italy, Singapore and Malaysia

Photo: Reuters
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Designation as a currency manipulator comes with no immediate penalties but can rattle financial markets | Photo: Reuters

Reuters
The US Treasury labeled Switzerland and Vietnam as currency manipulators on Wednesday and added India, Taiwan and Thailand to a watch list of countries it suspects of taking measures to devalue their currencies against the dollar.
 
The "monitoring list" of countries has now hit 10. Others on the list include China, Japan, Korea, Germany, Italy, Singapore and Malaysia.
 
The Treasury also said that India and Singapore had also intervened in the foreign exchange market in a "sustained, asymmetric manner" but did not meet other requirements to warrant designation as manipulators.
 
Designation as a currency manipulator comes with no immediate penalties

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First Published: Dec 17 2020 | 1:16 AM IST

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