IMF official: RMB exchange rate appreciating

Chinese currency ismoving toward equilibrium while China's external position is strengthening, an IMF official said in Washington on Friday.

The real effective renminbi exchange rate appreciated bymore than 10 percent in the past six months, and the currency is heading toward equilibrium, said Markus Rodlauer, deputy director of the Asia and Pacific Department of the International Monetary Fund.

The IMF will carefully assess the valuation of the currency in its coming review, Rodlauer said at a news conference at the ongoing World Bank/IMF spring meetings.