China's Yuan 'No Longer Undervalued'

According to the International Monetary Fund, China's currency "is no longer undervalued".
The US has long suggested that China has manipulated the value of the yuan to boost its exports.
Undervaluation has been a problem in the past, says the IMF in a statement, but this is no longer the case.
It says substantial "appreciation over the past year has brought the exchange rate to a level that is no longer undervalued".