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US ditches Indian currency money from monitoring list of trading

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India, China, United States, America, India currency rupee, Money, Dollar, Donald Trump, Currency monitoring, Macro Economic and Foreign Exchange, Business news

Washington: India has been removed from currency monitoring list of major trading by the US Treasury Department of Donald Trump administration because country has made improvements and developments.

India was placed for the first time by the US in its currency monitoring list of countries according to report in October 2018, the Treasury had said that India has made improvements and its name have been removed from the currency manipulation list in the next report.

Along with India other nation such as Switzerland has been removed by the US from its currency monitoring list which among others include China, Japan, South Korea, Germany, Italy, Ireland, Singapore, Malaysia and Vietnam.

 

India, China, United States, America, India currency rupee, Money, Dollar, Donald Trump, Currency monitoring, Macro Economic and Foreign Exchange, Business news

 

In latest semi-annual report on Macro Economic and Foreign Exchange policies of major trading partners of the US sent to the Congress the Treasury department said, “India has been removed from the monitoring list in this report, having met only one out of three criteria-a significant bilateral surplus with the US-for two consecutive reports.”

Further adding to this he said, “Neither Switzerland nor India met the criteria for having engaged in persistent, one-sided intervention in either the October 2018 report or this report. Both Switzerland and India have been removed from the monitoring list,” along it’s report running into over 40 pages.

 

US trumps Indian currency money from monitoring list of trading:

 

With new names on the list who added are Italy and Ireland from European Union (EU) and three Southeast Asian countries-Singapore, Malaysia and Vietnam.

The Department’s Currency which published report on May 28 says even 2 out of 3 measures for currency manipulation were tightened US again decided not to label China or any other country as a currency manipulator.

 

India, China, United States, America, India currency rupee, Money, Dollar, Donald Trump, Currency monitoring, Macro Economic and Foreign Exchange, Business news

 

In report Philip Wee, forex strategist at DBS Group Research said, “Washington’s restraint in not labeling China a currency manipulator was a relief.

Unfortunately, this would not be enough to offset the China-US trade tensions weighing on currencies.”

Meanwhile, Indian currency on Tuesday opened at 69.75 against the dollar, weaker than 69.6850 on close.

 

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Amazon Great Indian Festival sale starts from september 29th

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India’s favourite e-commerce portal, Amazon India, has just announced the biggest retail event of the year Amazon Great Indian Sale. The dates of this 6-day shopping extravaganza have been announced. The sale will go live on 29th September 2019 and end on 4th October 2019. Prime members will get a 12-hour early access to the sale. For them, Amazon Great Indian Festival Sale 2019 will commence on 28th September at 12 PM. Amazon has unveiled a few of the best offers that will be up for grabs. During the course of this five-day shopping extravaganza, Amazon India will provide jaw-dropping Amazon Great Indian Sale offers, deals, and discounts on purchases made from Amazon India’s e-commerce platform.

The company is offering a plethora of discounts such as up to 40% off on “latest and best smartphones of 2019” which include 15 new smartphones and accessories; up to 90% off on fashion with over 1200 top brands; up to 80% off on more than 50,000 home and kitchen products; and up to 75% off on home appliances.

In addition to discounts, Amazon will also be offering festive cashback offers on Amazon Fashion, combo offers on books, gaming and toys and the opportunity to save more using Amazon coupons on daily essentials. Kitchen and home products will be listed at the “lowest ever prices” with free installation. Moreover, more than 11,000 products by Amazon brands will be listed on sale.

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