Reuters logo
10 months ago
IMF official says China should be able to manage yuan transition
October 6, 2016 / 11:17 PM / 10 months ago

IMF official says China should be able to manage yuan transition

Chinese 100 yuan banknotes are seen on a counter of a branch of a commercial bank in Beijing, China, March 30, 2016.Kim Kyung-Hoon/File Photo

WASHINGTON (Reuters) - 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 expect that they will remain successful in managing this transition well in a gradual way, without the kind of disruption that you have asked about."

Reporting by David Lawder; Editing by Sandra Maler

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below