The rupee has made strong starts to the year, gaining 0.5% against the dollar so far in 2018. Photo: AFPSingapore: India and Thailand may have to give freer rein to the rupee and baht this year to avoid triggering US accusations that they’re manipulating their currencies to support exports. For all the efforts of policy makers last year, the baht appreciated almost 10% against the dollar, while the rupee climbed 6.4%. The US’s trade deficit with India was $19.7 billion at the end of October, according to data compiled by the US Census Bureau. Thailand is more of a contender than India to be added to the monitoring list, said Vishnu Varathan, head of economics and strategy at Mizuho Bank Ltd in Singapore.

Source: Mint January 04, 2018 03:45 UTC