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U.S. Lawmakers Complain China Manipulates Yuan

Tue, 06 Apr 2010 04:00:00 -0400 | NPR News Headlines

The Obama administration is giving China more time to adjust its currency. Some lawmakers, however, are growing impatient. They say the Chinese government is keeping its currency artificially low, costing jobs and sales for U.S. firms.


Geithner To Visit China Amid Currency Dispute

Wed, 07 Apr 2010 04:00:00 -0400 | NPR News Headlines

Treasury Secretary Timothy Geithner will hold talks in Beijing Thursday. The visit comes at a time when both countries have been arguing over the value of China's currency. David Wessel, economics editor of The Wall Street Journal, talks to Steve Inskeep about the valuation of the yuan, and U.S. interest rates.


Rupee redux

Wed, 07 Apr 2010 19:19:00 GMT | Business Standard

After a somewhat rocky February, the rupee has been back on an appreciation track through March. This has revived fears of currency overvaluation and erosion of export competitiveness. The real effective exchange rate index of the rupee against a six-currency basket computed by the investment bank JP Morgan (RBIs own index is available only with a lag) currently shows a level of about 112. It was incidentally about 107 in January.


Geithner's China Visit May Narrow Currency Difference

Thu, 08 Apr 2010 04:00:00 -0400 | NPR News Headlines

Treasury Secretary Timothy Geithner is in Beijing for talks about economic affairs. Thursday's visit is being interpreted as a sign that the U.S. and China are resolving their contentious dispute over China's currency and that Beijing might allow the yuan to rise against the dollar, as the U.S. has requested.


Letters: Chinese checkers

Wed, 28 Apr 2010 18:38:17 GMT | Business Standard

Ajit Ranade is recommending India follow the Chinese example of keeping an undervalued currency (Dancing with the Dragon, April 27) and putting import barriers as well. The argument follows a similar one made by equipment manufacturers, such as L&T, that India allows duty-free imports of power equipment while China doesnt. The other argument is as old as the hills, that an undervalued currency will allow Indian exports to take off and the boost this will give to employment and economic growth will be far higher than the loss India will have to suffer as it invests the dollars it buys in low interest-bearing US treasury bills.


Avon Products 1Q profit drops with currency hit

Fri, 30 Apr 2010 11:22:43 +0000 | Newsvine

A currency devaluation in Venezuela, costs related to a bribery investigation in China and restructuring charges drove Avon Products Inc.'s profit down 64 percent in the first quarter.


Gold may rise to $1,300 an ounce this year

Mon, 03 May 2010 19:20:00 GMT | Business Standard

Gold traditionally has an inverse relationship with the dollar. Hardening of the US currency, as is now happening in the wake of downgrade of sovereign credit ratings of Greece and Portugal, should have made the situation ripe for investors to sell gold and park the money in greenback and other assets. Investors are not sure how the European debt crisis will pan out and therefore, they are not expected to hitch onto any paper currency.


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