The US has warned Beijing not to go back to manipulating its currency, following a sharp depreciation of the renminbi since the start of 2014.
“If the recent currency weakness signals a change in China’s policy away from allowing adjustment and moving toward a market-determined exchange rate, that would raise serious concerns,” said a senior Treasury official ahead of this week’s IMF, World Bank and G20 meetings in Washington.
The renminbi has fallen more than 2.5 per cent against the US dollar since mid-February, a small amount for most emerging markets, but a dramatic shift for the Chinese currency following years of slow and steady appreciation. It trades at Rmb6.20 against the US dollar, roughly the same level as this time last year.
您已阅读43%（745字），剩余57%（990字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。