The International Monetary Fund (IMF) is reportedly on the verge of declaring China’s currency fairly valued for the first time in more than a decade, the Wall Street Journal reported on Sunday.
The fund’s reassessment is expected to be made official in IMF reports on China in the coming months, the report said. This is a milestone event as the IMF for years have expressed disapproval over Beijing’s management of its currency.
The shift could also undermine Washington’s dissatisfaction with the yuan, which it claims remains artificially weak and giving Chinese exports an unfair advantage.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015