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Chinese Currency Accountability Act of 2023

USA118th CongressS-1919| Senate 
| Updated: 6/8/2023
Ted Budd

Ted Budd

Republican Senator

North Carolina

Cosponsors (6)
Joni Ernst (Republican)Mike Braun (Republican)Katie Boyd Britt (Republican)Cindy Hyde-Smith (Republican)Joe Manchin (Independent)John Barrasso (Republican)

Foreign Relations Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Chinese Currency Accountability Act of 2023 This bill requires the United States to oppose, absent specified conditions, any increase in the weight of Chinese currency (i.e., the renminbi) in the basket of currencies (currently, a set of five currencies, each with different weightings) used to determine the value of Special Drawing Rights. Special Drawing Rights are a currency support tool available to members of the International Monetary Fund (IMF). Specifically, the Department of the Treasury must instruct certain U.S. officials at the IMF to oppose any such increase unless Treasury has certified that (1) China is in compliance with all general obligations of members of the IMF, (2) China has not been found to have manipulated its currency in the preceding 12 months, and (3) China is implementing policies and practices necessary to ensure that the renminbi is freely usable.
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Timeline
Jun 8, 2023
Introduced in Senate
Jun 8, 2023
Read twice and referred to the Committee on Foreign Relations.
Sep 10, 2024

Latest Companion Bill Action

HR 118-510
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
  • June 8, 2023
    Introduced in Senate


  • June 8, 2023
    Read twice and referred to the Committee on Foreign Relations.


  • September 10, 2024

    Latest Companion Bill Action

    HR 118-510
    Received in the Senate and Read twice and referred to the Committee on Foreign Relations.

Foreign Trade and International Finance

Related Bills

  • HR 118-510: Chinese Currency Accountability Act of 2023

Chinese Currency Accountability Act of 2023

USA118th CongressS-1919| Senate 
| Updated: 6/8/2023
Chinese Currency Accountability Act of 2023 This bill requires the United States to oppose, absent specified conditions, any increase in the weight of Chinese currency (i.e., the renminbi) in the basket of currencies (currently, a set of five currencies, each with different weightings) used to determine the value of Special Drawing Rights. Special Drawing Rights are a currency support tool available to members of the International Monetary Fund (IMF). Specifically, the Department of the Treasury must instruct certain U.S. officials at the IMF to oppose any such increase unless Treasury has certified that (1) China is in compliance with all general obligations of members of the IMF, (2) China has not been found to have manipulated its currency in the preceding 12 months, and (3) China is implementing policies and practices necessary to ensure that the renminbi is freely usable.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 8, 2023
Introduced in Senate
Jun 8, 2023
Read twice and referred to the Committee on Foreign Relations.
Sep 10, 2024

Latest Companion Bill Action

HR 118-510
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
  • June 8, 2023
    Introduced in Senate


  • June 8, 2023
    Read twice and referred to the Committee on Foreign Relations.


  • September 10, 2024

    Latest Companion Bill Action

    HR 118-510
    Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
Ted Budd

Ted Budd

Republican Senator

North Carolina

Cosponsors (6)
Joni Ernst (Republican)Mike Braun (Republican)Katie Boyd Britt (Republican)Cindy Hyde-Smith (Republican)Joe Manchin (Independent)John Barrasso (Republican)

Foreign Relations Committee

Foreign Trade and International Finance

Related Bills

  • HR 118-510: Chinese Currency Accountability Act of 2023
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted