IMF: China's yuan currency no longer undervalued
International Monetary Fund
Beijing - Arab Today
China's yuan currency, which Washington has long alleged was manipulated, is "no longer undervalued", the International Monetary Fund said Tuesday.
"Our assessment now is that the substantial real effective appreciation over the past year has brought the exchange rate to a level that is no longer undervalued," the IMF said in a statement after a consultation mission to China.
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