H.R. 386 · 119th Congress
Chinese Currency Accountability Act of 2025
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Passed the House without a recorded vote. It passed by voice vote or unanimous consent, which don't record how each member voted. Its text can still change before it becomes law.
R
DavidsonSponsor1 cosponsor · 1 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Jan 14, 2025
- House Passed Feb 10, 2025
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.
What it does: CRS summary · Introduced in House · Jan 14, 2025
Chinese Currency Accountability Act of 2025
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 international reserve assets created by the International Monetary Fund (IMF) to supplement member countries' official foreign exchange reserves.
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 China is in compliance with certain standards and international agreements, including 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 adheres to the rules and principles of the Paris Club and the Organisation for Economic Co-operation and Development (OECD) Arrangement on Officially Supported Export Credits.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Chinese Currency Accountability Act of 2025
Latest action (Feb 11, 2025): Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
Policy area: Foreign Trade and International Finance · Origin: House · Introduced: Jan 14, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced Jan 14, 2025
- House Passed Feb 10, 2025
No recorded floor vote found.