16.10.2014 - China's currency undervalued, Germany can boost Europe's growth
The Obama administration said Wednesday that China has made strides in recent months to let its currency appreciate but that the yuan is still deeply undervalued. The Treasury Department said China’s yuan — also known as the renminbi, or RMB — “remains significantly undervalued," but didn’t go as far as to name China or any other nation a currency manipulator in its semiannual report to Congress. "China should allow the market to play a greater role in determining the exchange rate," the Treasury report said. Between mid-February and late April, the RMB depreciated by 3.1 percent...............................................Full Article: Source
Print