IMF says China yuan is 5 to 10% undervalued

The International Monetary Fund says the Chinese yuan remains moderately undervalued by 5% to 10%, given the large current-account surplus and economic fundamentals. China’s yuan has rebounded from an unprecedented tumble earlier in the year, finishing July with a third monthly advance against the U.S. dollar and traders saying it is primed for further gains amid signs that the world’s second-largest economy is strengthening.

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