Money Matters - Simplified

particularly China

U.S. urges more currency accountability

Washington -- The world's industrialized nations should hold key countries, particularly China, accountable for their currency policies, a U.S. official says.

U.S. Treasury Secretary Timothy Geithner said in a speech at the International Monetary Fund Saturday that the fund needs to take a more advanced role to make sure countries don't use exchange rates to get advantages in trade, The Washington Post said Sunday.

China is accused of using its low currency rate to gain a trade surplus, the Post said.