BEIJING, June 8 China's yuan currency is
"moderately undervalued" at the current level, David Lipton,
deputy managing director of the International Monetary Fund,
said on Friday.
Lipton made the comments at a media briefing following
annual consultations with Chinese officials.
The yuan was trading on Friday at 6.3705 to the
dollar. It has lost about 1 percent since early May when it
started a depreciation trend.
Lipton also said China's economic slowdown has been
moderate, adding Beijing's response has been appropriate. The
central bank on Thursday cut interest rates for the first time
since late 2008.
(Reporting by Koh Gui Qing; Editing by Ken Wills)