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Exchange Rates and Currency Manipulation (CRS Report for Congress)

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Release Date Revised June 11, 2024
Report Number IF10049
Report Type In Focus
Authors Rebecca M. Nelson
Source Agency Congressional Research Service
Older Revisions
  • Premium   Revised Sept. 22, 2022 (2 pages, $24.95) add
  • Premium   Revised Dec. 31, 2020 (166 pages, $24.95) add
  • Premium   Revised June 22, 2020 (3 pages, $24.95) add
  • Premium   Revised Jan. 28, 2020 (125 pages, $24.95) add
  • Premium   Revised June 24, 2019 (2 pages, $24.95) add
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Summary:

Some Members of Congress and policy experts argue that U.S. companies and jobs have been adversely affected by the exchange rate policies adopted by China, Japan, and a number of other countries. They allege that these countries use policies to “manipulate” the value of their currency in order to gain an unfair trade advantage against other countries, including the United States. Other analysts are more skeptical about currency manipulation being a significant problem. They raise questions about whether government policies have long-term effects on exchange rates; whether it is possible to differentiate between “manipulation” and legitimate central bank activities; and the net effect of currency manipulation on the U.S. economy.