White House piles pressure on China over currency | business | Hindustan Times
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White House piles pressure on China over currency

The White House added more pressure on China to revalue its yuan currency on Friday, saying the world would be "better off" if Beijing implemented a market-based exchange rate.

business Updated: Jun 18, 2010 21:28 IST
Reuters

The White House added more pressure on China to revalue its yuan currency on Friday, saying the world would be "better off" if Beijing implemented a market-based exchange rate.

"This is obviously going to be an issue that we'll continue to discuss," White House spokesman Bill Burton told reporters on board Obama's aircraft as it flew to Ohio.

His comments came after the White House released a letter from Obama to G20 leaders that said free-floating currencies were "essential" to global economic activity.