hard to argue yuan is undervalued - imf

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    SINGAPORE (Reuters) - It was difficult to say what the appropriate exchange rate for the Chinese currency was, a senior official of the International Monetary Fund (News - Websites) said in Singapore on Sunday
    "It's hard to tell where the appropriate exchange rate is," IMF Deputy Director Shigemitsu Sugisaki told the World Economic Forum East Asia Summit in Singapore.

    Greater productivity would put pressure on the yuan, or renminbi to rise, but more trade liberalization and capital liberalization could put pressure on the currency.

    "All these together...it's difficult to find a persuasive (case) that the renminbi is substantially undervalued," Sugisaki said.

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