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The U.S. Department of the Treasury labels China as a currency manipulator.

A press release by the U.S. Department of the Treasury confirms the statement.

A press release by the U.S. Department of the Treasury confirms the statement.According to the US Treasury Department's press release on 5 August 2019, Secretary of Treasury Steve Mnuchin, under the guidance of President Donald Trump stated that China is a currency manipulator. As per the report of Macroeconomics and Foreign Exchanges Policies of Major Trading Partners of the United States provided by the US Treasury Department, Treasury has carefully monitored the developments in the Chinese renminbi (RMB) and during the second half of 2018, RMB got depreciated by 3 per cent against the dollar and is down 8 per cent over the past year to 6.92 RMB to the dollar.

China's Foreign Ministry Spokesperson Hua Chunying's Remarks on 6 August 2019 declines the claims made by US Treasury. However, China has not given any detailed report with regards to the same.

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