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With reference to the Currency Monitoring List, consider the following statements:
1. The Trade Facilitation and Trade Enforcement Act of 2015 of US requires its Treasury Department to report to the Congress in every six months if any country is manipulating its currencies to gain trade advantages over the US.
2. Significant trade surplus with the US (at least $20 billion in 12 months) is one of the three criteria that US Treasury looks at in placing a country on the watch list.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
With reference to the Currency Monitoring List, consider the following...
The US Department of Treasury recently removed India along with Italy, Mexico, Thailand and Vietnam from its Currency Monitoring List of major trading partners that merit close attention to their currency practices and macroeconomic policies.
- India had been on the list for the last two years.
- China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan are the seven economies that are a part of the current monitoring list.
- The countries that have been removed from the list have met only one out of three criteria for two consecutive reports.
Currency Manipulation:
- The Trade Facilitation and Trade Enforcement Act of 2015 of US requires its Treasury Department to report to the Congress in every six months if any country is manipulating its currencies to gain trade advantages over the US.
- One of the ways of manipulation involves any country artificially weakening its currency by selling it in exchange for a foreign currency, usually the US dollar.
- This artificial weakening of currency makes its own exports cheaper, thereby gaining an unfair trade advantage over another country’s exports.
Criteria:
- There are three criteria the US Treasury looks at in placing a country on the watch list:
- Significant trade surplus with the US (at least $20 billion in 12 months)
- A large current account surplus (at least 2 per cent of GDP over a 12-month period)
- “Persistent", one-sided intervention (when net purchases of foreign currency totalling at least 2 per cent of the country’s GDP over a 12-month period are conducted repeatedly, in at least six out of 12 months).
The countries that meet two out of the three criteria are placed on the watch list.
Hence both statements are correct.
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With reference to the Currency Monitoring List, consider the following statements:1. The Trade Facilitation and Trade Enforcement Act of 2015 of US requires its Treasury Department to report to the Congress in every six months if any country is manipulating its currencies to gain trade advantages over the US.2. Significant trade surplus with the US (at least $20 billion in 12 months) is one of the three criteria that US Treasury looks at in placing a country on the watch list.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to the Currency Monitoring List, consider the following statements:1. The Trade Facilitation and Trade Enforcement Act of 2015 of US requires its Treasury Department to report to the Congress in every six months if any country is manipulating its currencies to gain trade advantages over the US.2. Significant trade surplus with the US (at least $20 billion in 12 months) is one of the three criteria that US Treasury looks at in placing a country on the watch list.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Currency Monitoring List, consider the following statements:1. The Trade Facilitation and Trade Enforcement Act of 2015 of US requires its Treasury Department to report to the Congress in every six months if any country is manipulating its currencies to gain trade advantages over the US.2. Significant trade surplus with the US (at least $20 billion in 12 months) is one of the three criteria that US Treasury looks at in placing a country on the watch list.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Currency Monitoring List, consider the following statements:1. The Trade Facilitation and Trade Enforcement Act of 2015 of US requires its Treasury Department to report to the Congress in every six months if any country is manipulating its currencies to gain trade advantages over the US.2. Significant trade surplus with the US (at least $20 billion in 12 months) is one of the three criteria that US Treasury looks at in placing a country on the watch list.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
With reference to the Currency Monitoring List, consider the following statements:1. The Trade Facilitation and Trade Enforcement Act of 2015 of US requires its Treasury Department to report to the Congress in every six months if any country is manipulating its currencies to gain trade advantages over the US.2. Significant trade surplus with the US (at least $20 billion in 12 months) is one of the three criteria that US Treasury looks at in placing a country on the watch list.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Currency Monitoring List, consider the following statements:1. The Trade Facilitation and Trade Enforcement Act of 2015 of US requires its Treasury Department to report to the Congress in every six months if any country is manipulating its currencies to gain trade advantages over the US.2. Significant trade surplus with the US (at least $20 billion in 12 months) is one of the three criteria that US Treasury looks at in placing a country on the watch list.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Currency Monitoring List, consider the following statements:1. The Trade Facilitation and Trade Enforcement Act of 2015 of US requires its Treasury Department to report to the Congress in every six months if any country is manipulating its currencies to gain trade advantages over the US.2. Significant trade surplus with the US (at least $20 billion in 12 months) is one of the three criteria that US Treasury looks at in placing a country on the watch list.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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