Economy
May 28, 2015
China Currency “No Longer Undervalued” Says IMF
Written by Sandy Williams
The International Monetary Fund says the China’s currency is “no longer undervalued” after being labeled “modestly undervalued” for the past several years.
According to a Tuesday statement by IMF, “While undervaluation of the renminbi was a major factor causing the large imbalances in the past, 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.”
