Trump has accused Russia and China of «the game of currency devaluation»

© AP Photo / Manuel Balce CenetaПрезидент USA Donald trumpTrump has accused Russia and China of «the game of currency devaluation»© AP Photo / Manuel Balce Ceneta

The US President Donald trump has accused Russia and China of «playing the devaluation of currencies» and called it unacceptable.

«Russia and China playing the currency devaluation, while the US continues to raise interest rates. Unacceptable!» he wrote Monday on his Twitter.

The Ministry of Finance of the Russian Federation in February 2017 began buying currency on the domestic market to minimize the dependence of the ruble on volatility of oil prices. For this purpose are sent additional oil and gas revenues. The effect of these transactions on the ruble, the assurances of the Ministry of Finance and the Central Bank should be neutral.

The Ministry previously announced that from April 6 to may 8, will buy on the internal currency market of $ 11.5 billion rubles per day and in total will be paid in the 240,7 billion. But on Monday due to a sharp fall of the ruble on the background of the new sanctions, the United States has been discontinued. The Central Bank promised to resume purchases of foreign currency, when the Russian market will become more stable.

In August 2015 the people’s Bank of China weakened sharply, the yuan to the dollar (from 3% from 6.20 to 6.40), a shock to world stock markets. Later, the Chinese Central Bank focused on the stabilization of the yuan. After this happened three more waves to the weakening of the Chinese currency: in the winter of 2015/2016 (to 6.55), in July 2016 (to 6.67), and the third began in October 2016. After the first wave, the experts claimed that the Chinese Central Bank deliberately devalue the yuan to stimulate exports. The Chinese authorities have denied these allegations.

Currently, the Chinese currency strengthened significantly against the U.S. dollar.