Why chances of India being named a currency manipulator are slim

India made a surprising entry on the US Treasury's currency watchlist last week, but it's some way from being labeled a manipulator of the rupee.

The Treasury cited India's “significant” trade surplus with the US and increased purchases of foreign currency last year as reasons for increased scrutiny of the Asian economy. Taiwan and Thailand, both of whom run significant current account surpluses and whose central banks have actively intervened in currency markets, weren't added to the list.

A spokesman for India’s central bank declined to comment on the Treasury report, which identifies three criteria to label a country as a currency