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    Question

    According to biannual report of the Department of

    Treasury, US Department of Treasury removed which of the following European country from its Currency Monitoring List?
    A France Correct Answer Incorrect Answer
    B Britain Correct Answer Incorrect Answer
    C Germany Correct Answer Incorrect Answer
    D Italy Correct Answer Incorrect Answer
    E Norway Correct Answer Incorrect Answer

    Solution

    The US Department of Treasury removed India along with Italy, Mexico, Thailand and Vietnam from its Currency Monitoring List. China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan are the seven economies that are a part of the current monitoring list according to it’s biannual report of the Department of Treasury. The countries that have been removed from the list have met only one out of three criteria for two consecutive reports. United States Department of the Treasury      Headquarters: Washington DC   Secretary of the Treasury: Janet Yellen Currency Monitoring List- Putting a country under the Currency Monitoring List would mean that the country is artificially lowering the value of its currency to gain an unfair advantage over others. This is because the lower value of the currency will lead to a reduction of the export costs from that country. The US Department of Treasury releases a semi-annual report in which it tracks global economic developments and reviews foreign exchange rates. It also reviews the currency practices of the US’ 20 biggest trading partners.

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