MEXICO CITY, April 16 (Reuters) - Mexico's finance ministry said on Friday the country was placed on the U.S. Treasury Department's "Monitoring List" for currency practices due to a methodology effect derived from bilateral trade levels in 2020.
The ministry said in a statement that the effect was temporary, and the U.S.-Mexico trade balance would readjust as Mexico's economy recovers.
It added the Treasury report did not classify Mexico "as an economy that manipulates its exchange rate," so it could not be subject to U.S. sanctions. (Reporting by Daina Beth Solomon and Frank Jack Daniel Editing by Chris Reese)
