US: Chinese yuan still undervalued despite rise

GMT 21:45 2013 Wednesday ,30 October

Arab Today, arab today US: Chinese yuan still undervalued despite rise

Arab Today

The US Treasury said Wednesday that the Chinese yuan remains undervalued despite its significant appreciation this year and called on Beijing to disclose more about its market intervention. In a semi-annual report to Congress, the Treasury stopped short of officially labeling China a currency manipulator, a designation that could spark US trade sanctions.

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