IMF official says China should be able to manage yuan transition

IMF official says China should be able to manage yuan transition
 

China can continue to make progress towards a floating exchange rate over time without a major disruptions to the yuan's value, a senior International Monetary Fund official said on Thursday.
Markus Rodlauer, deputy director of the IMF's Asia-Pacific department, told a news conference that Chinese authorities have been very "skillful" in navigating a transition away from a hard currency peg to the dollar and avoiding speculative bubbles.
Asked whether he expected another major devaluation, he said: "It will continue to have bumps on the way, but I think it's reasonable to... read more

 
7 October 2016 in Business, Views: 52
Source: Reuters
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