RBI — US Treasury keeps India off currency watch list, but expands review criteria

The United States has kept India off its currency monitoring list after finding it met only one of three criteria for enhanced scrutiny during the latest review period. India recorded a $63 billion bilateral trade surplus with the US but had a current account deficit of 0.4% of GDP, while the RBI was a net seller of foreign exchange worth $43 billion. The US Treasury has, however, broadened its assessment methodology to include a wider range of factors beyond the three statutory thresholds, signaling closer scrutiny of forex policies globally.