currency manipulation
KUR-en-see muh-nip-yoo-LAY-shun
ˈkʌrənsi məˌnɪpjʊˈleɪʃənListen
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Dictionary meaning
the practice by a government or central bank of intervening in foreign exchange markets to deliberately depress the value of its currency in order to make its exports cheaper and its imports more expensive, gaining an unfair competitive advantage in international trade; currency manipulation is distinct from legitimate exchange rate management and from the natural depreciation that may follow loose monetary policy; the IMF and WTO prohibit currency manipulation, and the US Treasury publishes a regular report assessing the exchange rate practices of major trading partners, with designation as a currency manipulator carrying potential trade policy consequences; distinguishing legitimate monetary policy from manipulation is technically and politically contested
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