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The US administration is ready with action against China if it does not take a major step to update its currency. IMF has concluded the currency is significantly undervalued.
Since June the Yuan has appreciated by about 3 per cent against the US dollar. Since September the pace of appreciation has accelerated to a rate of more than one per cent per month. Will this trend continue?
India has allowed its currency to move according to market forces. Currently the middle rate is around Indian Rupee 44+ to a Dollar.
Pakistani Rupee rate:-
The US imports of Chinese goods is around US$35 billion. While US exports to China around US$$7 in recent months.
Read more: US can't drive global economy: White House
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