Bloomberg News

China PBOC Firmly Opposes U.S. Bill on Yuan Exchange Rate

October 11, 2011

Oct. 12 (Bloomberg) -- The People’s Bank of China said it firmly opposes U.S. legislation aimed at pressuring China to appreciate its currency.

The bill will seriously hurt trade relations and hamper the world economic recovery, the central bank said in a statement on its website today.

The U.S. is using the yuan as an “excuse to politicize” its own economic problems, the bank said.

To contact the editor responsible for this story: Gregory Turk at gturk2@bloomberg.net


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