Germany: Let yuan appreciate against euro
2 September 2008
German Finance Minister Peer Steinbrueck says China should let its currency appreciate faster against the euro, Reuters reported. Steinbrueck told reporters foreign exchange rates should follow economic fundamentals, but said this is not the case with the yuan-euro exchange rate. Speaking in China, Steinbrueck said the yuan's rise against the US dollar in recent months had not been accompanied by a similar rise against the euro. "They have an interest in addressing global economic imbalances just as we have," said the German official.