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IMF chief again urges China to let yuan rise

Published 11/17/2009, 01:46 AM
Updated 11/17/2009, 01:51 AM

BEIJING, Nov 17 (Reuters) - China should let the yuan rise sooner rather than later, the head of the IMF said on Tuesday.

Dominique Strauss-Kahn, the managing director of the International Monetary Fund, reiterated that a stronger yuan was one part -- but not the most important part -- of a package of measures needed to help rebalance China's economy.

Asked at a news conference when Beijing should let the currency appreciate, he replied: "The sooner the better".

China has kept the yuan pegged around 6.83 per dollar since July 2008, following a 21 percent rise over the previous three years, to help its exporters weather the global economic crisis. (Reporting by Simon Rabinovitch; Editing by Alan Wheatley and Chris Lewis)

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