There were no secret backroom agreements at the Group of 20 (G-20) meeting in Shanghai to manage the exchange rate between the dollar and renminbi, the deputy managing director of the International Monetary Fund (IMF) told CNBC, rebuffing reports of a deal.
"We didn't hear anything," Zhu Min, deputy managing director of the International Monetary Fund (IMF).
"The (Chinese) vice minister of finance (Zhu Guangyao) clearly denied the rumors and I don't think there was any secret deal."
The comments follow speculation that there could have been some kind of tacit agreement made at the recent G20 summit to let the dollar depreciate in order to relieve the pressure on other currencies, such as the yuan.
On Tuesday, Zhu Guangyao said there was no secret agreement between the U.S. and China regarding adjustments to exchange rates, Reuters reported.