Business Standard

Japan urges China to move towards market-based forex system

Says Japan would face a tough decision on how to respond if China intervenes frequently in the market

Reuters Tokyo

Japanese Finance Minister Taro Aso on Friday urged China to continue shifting its currency market towards a market-oriented system.

"Japan would face a tough decision on how to respond if China intervenes frequently in the market," he told a news conference after a regular cabinet meeting.

China devalued the yuan on Aug 11 as a slew of gloomy data, including soft exports and slumping wholesale prices, heightened concern over the strength of the world's second-largest economy.

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First Published: Aug 21 2015 | 6:39 AM IST

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