IMF pressures China over flexible yuan

The International Monetary Fund has again pressured Beijing to revalue its currency, the Renminbi yuan, China Daily reported Thursday 21 October.

Eswar Prasad, IMF's China division chief, said in Washington on Wednesday that the cost of maintaining the yuan's fixed regime to the U. S. dollar was mounting, and argued for a widening of the trading band on the yuan by 10 percent to 15 percent.

"I think the cost of maintaining the exchange rate regime is going to be large and will grow over time -

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