US Treasury's Mnuchin tells IMF to monitor currencies

By Tim Strube

US Treasury Secretary Steven Mnuchin called on the International Monetary Fund to provide "candid analysis" of exchange-rate policies in member countries.

Mnuchin spoke by phone with IMF Managing Director Christine Lagarde in what was among the first contacts between the fund and the administration of President Donald Trump, who has repeatedly accused countries like China of using trade and currency policies to cheat its trading partners.

Mnuchin in his conversation with Lagarde "underscored his expectation that the IMF provide frank and candid analysis of the exchange-rate policies of IMF member countries," according to a Treasury readout of the call.

Read the full article on TheBull.

The IMF does monitor currencies and other economic policies in the 189 member countries and its rules dictate members must "avoid manipulating exchange rates... to gain an unfair competitive advantage over other members."

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Tagged in: global payments, currency conversion, compliance, imports, exports, exchange rates

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