Qa'dah 07, 1431 H/Oct 15, 2010, SPA -- The U.S. Treasury Department said on Friday it was delaying a decision on whether China manipulates its currency until after a pair of international summits in November. The United States and the European Union say China keeps the yuan artificially low to boost exports, undermining jobs and competitiveness in their economies, according to Reuters. Treasury Secretary Timothy Geithner told Congress last month he would rally other Group of 20 nations to put pressure on China to let the yuan rise faster. G20 finance ministers meet on Oct. 22, with a leaders summit following on Nov. 11. Leaders of the Asia Pacific Economic Cooperation forum will meet Nov 13-14. "The Treasury will delay the publication of the report on international economic and exchange rate policies in order to take advantage of the opportunity provided by these important meetings," it said in a statement. The department is required to issue a report every six months on whether any country is manipulating its currency for an unfair trade advantage. The latest report was expected to be released on Friday.
