U.S. keeps S. Korea on currency manipulation monitoring list
- 5 years ago
Let start with a decision by the U.S. Treasury Department to keep South Korea on a watch list for currency manipulation.
According to the department's report released on Tuesday, nine countries, including China, were on the monitoring list.
It means the U.S. will pay close attention to South Korea's currency practices and macroeconomic policies.
Countries that meet two of the three criteria are placed on the watch list.
Those criteria include...a trade surplus of at least 20-billion U.S. dollars with the U.S., a current account surplus that is at least 2-percent of GDP, and persistent intervention in foreign exchange markets.
The report says Seoul only met one criteria -- the current account surplus -- and emphasized it would remove South Korea from the watch list if this condition remains the same at the time of its next report.
According to the department's report released on Tuesday, nine countries, including China, were on the monitoring list.
It means the U.S. will pay close attention to South Korea's currency practices and macroeconomic policies.
Countries that meet two of the three criteria are placed on the watch list.
Those criteria include...a trade surplus of at least 20-billion U.S. dollars with the U.S., a current account surplus that is at least 2-percent of GDP, and persistent intervention in foreign exchange markets.
The report says Seoul only met one criteria -- the current account surplus -- and emphasized it would remove South Korea from the watch list if this condition remains the same at the time of its next report.