U.S. Treasury Secretary Jacob Lew: China should refrain from competitive devaluation

Market news

7 September 2015

U.S. Treasury Secretary Jacob Lew: China should refrain from competitive devaluation

The U.S. Treasury Secretary Jacob Lew said at G20 summit on Friday that China should refrain from competitive devaluation.

"China should allow its exchange rate to reflect underlying fundamentals, avoid persistent exchange rate misalignments, and refrain from competitive devaluation," he said.

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