Indian Rupee not weak currency against US Dollars – Chinese Yen still uncertain
As per the latest updates, it is obvious that the US decides to stop keeping an eye over its economic and financial performance. Besides, updates also suggest that China may further be under US watch list. This also means that Asian nations need to maintain a strong hold of their weak currency from persisting further much below US dollars.
The official statements were made by the Spokesperson from the US Treasury Department. The officials have clarified that India has been cleared from the List of countries that are watched by US officials for its currency valuation.
The process of valuation was done on the basis of observations made after monitoring the performance of Indian Big Traders on the economy market.
The Semi-Annual report that was officially released by the US Congress offers with details of Exchange rate terms and International Economic performance. It was officially mentioned that the major step was taken into consideration on Tuesday 28th May 2019. The observations were made officially on the basis of Switzerland reports submitted earlier. The report was prepared on the basis of previous policies mentioned in the reports.
As per spokespersons, India was one of the countries whose name was mentioned in the previous list along with South Korea, Germany, China, Switzerland, and Japan. The report was prepared last year October.
As per official reports, the US has mentioned that it will continue to monitor China for its economic performance and take all possible steps to help regulate the economy on account of its weak currency performance.
World Treasury has also suggested China do something to help overcome its weak currency issues and strengthen its economy on a global platform.