Washington Update

October 31st, 2013
Stephanie Henry

The US Treasury Department declined to label China a currency manipulator in its latest Semi-Annual Report to Congress on International Economic and Exchange Rate Policies, released on Wednesday, but acknowledged China’s currency remains “significantly undervalued.” In its report, Treasury noted that China's real exchange rate has appreciated 12 percent against the US dollar since June 2010, and by 45 percent against the dollar since 2005. However, the report states that there is “evidence...