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The renminbi was allowed to climb only 2percentt.
This is the opposite of what China did when the renminbi was strong.
The Treasury Department said the renminbi was "substantially undervalued" relative to the dollar.
The cheap renminbi was enabling Chinese manufacturers to take jobs from Americans, he said.
In 2010 an undervalued renminbi was a significant drag on advanced economies, including the United States.
Regarding currency adjustments, Mr. Strauss-Kahn said that the euro appeared "somewhat overvalued," while the renminbi was "still undervalued".
Similar(16)
The extra renminbi are feeding inflation.
To float the renminbi is not costless.
In Asia, the renminbi is doubly significant.
External confidence, like the renminbi, is falling.
The undervalued renminbi is good for politically influential export companies.
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