IMF on verge of declaring yuan fairly valued: Report

The International Monetary Fund (IMF) is reportedly on the verge of declaring China's currency fairly valued for the first time in more than a decade, the Wall Street Journal reported on Sunday.

The fund's reassessment is expected to be made official in IMF reports on China in the coming months, the report said.

This is a milestone event as the IMF for years have expressed disapproval over Beijing's management of its currency.

The shift could also undermine Washington's dissatisfaction with the yuan, which it claims remains artificially weak and giving Chinese exports an unfair advantage.

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