Renminbi is at fair value, the IMF says
Fund declares Chinese currency to be fairly valued ahead of SDR basket review
The renminbi is fairly valued, the International Monetary Fund has declared, just months before deciding whether to include it in the special drawing rights (SDR) basket.
The observation was made in a statement concluding an Article IV mission to China and reiterated by first deputy managing director David Lipton during a press conference on May 26 in Beijing.
"While undervaluation of the renminbi was a major factor causing the large imbalances in the past, our assessment now is that the
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