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Yellen Says Yuan Exchange Rate More Problematic for Europe Than U.S.

U.S. Treasury Secretary Janet Yellen noted that China's yuan presents a bigger exchange rate issue for Europe compared to the United States.

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Terms & Concepts
  • Exchange Rate: The value of one currency in terms of another, determining how much of one currency can be exchanged for another.
  • Yuan (CNY): The official currency of the People's Republic of China, also referred to as the Chinese renminbi.