China calls Trump's charge of currency devaluation contradictory

China on Tuesday said accusations by American President Donald Trump that Beijing allegedly devalued its currency contradicts a semi-annual report by the US Treasury Department.

"We have seen these reports and we have also noted the twice yearly report by the Treasury Department of the US and it seems that the US is sending out confusing signals," Foreign Ministry spokesperson Hua Chunying said during a press conference here.

Hua added that China will continue with its reforms to come up with mechanisms to counter the flip-flops in foreign currency exchange rates.

A US Treasury Department report from last week had said that China did not manipulate its currency in the second half of 2016.

"Russia and China are playing the Currency Devaluation game as the US keeps raising interest rates. Not acceptable!" Trump had tweeted on Monday.

--IANS

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