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India does not see logic in U.S. putting it on currency watchlist, official says | Reuters

India does not see any logic in the United States putting it on a monitoring list of currency manipulators, a trade ministry official said on Tuesday.

“I don’t understand any economic logic,” of the U.S. move as India’s central bank is following a policy that allows currency movements based on market forces, Anup Wadhawan, India’s commerce secretary told reporters.

Last week, the U.S. Treasury Department put India along with 10 other economies including Singapore, Thailand and Mexico on the “Monitoring List” that it said required close attention to their currency practices. Reporting by Manoj Kumar; Editing by Alison Williams

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