China should let the yuan rise sooner rather than later, the head of the IMF said today.
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 per cent rise over the previous three years, to help its exporters weather the global economic crisis.
Reuters
