China's vice finance minister says no secret US-China exchange rate agreement

[BEIJING] China's vice finance minister, Zhu Guangyao, said on Tuesday there was no secret agreement between the United States and China regarding adjustments to exchange rates.

The comment, at a forum in Beijing, follows speculation in foreign exchange markets that finance ministers at the recent G20 summit in Shanghai may have reached a tacit understanding in which the United States agreed to allow the dollar to depreciate, relieving pressure on other currencies.

REUTERS