IMF chief says Chinese yuan is undervalued
Wed Mar 17, 2010 5:47am EDT
BRUSSELS, March 17 (Reuters) - The Chinese yuan currency CNY=CFXS is undervalued, International Monetary Fund Managing Director Dominique Strauss-Kahn said on Wednesday.
Currencies
"Some currencies in Asia are undervalued, especially the renminbi," Strauss-Kahn told a committee in the European Parliament.
But he cautioned that exchange rate misalignments should not be blamed for all economic problems and that countries should also look at competitiveness issues.
Wed Mar 17, 2010 5:47am EDT
BRUSSELS, March 17 (Reuters) - The Chinese yuan currency CNY=CFXS is undervalued, International Monetary Fund Managing Director Dominique Strauss-Kahn said on Wednesday.
Currencies
"Some currencies in Asia are undervalued, especially the renminbi," Strauss-Kahn told a committee in the European Parliament.
But he cautioned that exchange rate misalignments should not be blamed for all economic problems and that countries should also look at competitiveness issues.