Wednesday, 27 May 2015 - 13:33
China's yuan currency 'no longer undervalued': IMF
The International Monetary Fund says China's yuan currency, which Washington has long alleged was manipulated, is "no longer undervalued".
The value of the yuan, has been a source of tension for years, with China's major trade partners - led by the United States - accusing Beijing of keeping it artificially low to give Chinese exporters an unfair competitive advantage, which Beijing denied.
China keeps a tight grip on the value of the yuan out of concerns that unpredictable currency inflows and outflows could harm the economy and weaken its financial control.