US Treasury removed India from its currency monitoring list

International Desk:
The US Treasury Department has removed India from the Currency Monitoring list of major trading partners along with Italy, Mexico, Thailand, Vietnam.  India was in this list for the last two years.  Under this system, a close watch is kept on the currency activities and macroeconomic policies of the major trading partners.
US Treasury Secretary Janet Yellen held a meeting with Finance Minister Nirmala Sitharaman on Friday during her visit to India.  On the same day the Finance Department of America has taken this step.  In its half-yearly report to Parliament, the Finance Department said that China, Japan, South Korea, Germany, Malaysia, Singapore and Taiwan are the seven countries that are currently on the watch list.
India was on the US currency monitoring list for the last two years.  The US prepares this list to monitor the currency of its major partners.  Under this arrangement, currency movements and macroeconomic policies of major trading partners are closely monitored.  Those countries are kept on the watch list, whose foreign exchange rate it suspects.  In this way, India's exit from this list shows America's growing confidence in the country, about which Janet Yellen has also said.