Currency manipulator refers to a country that artificially manipulates the exchange rate to make it look relatively low, make its export price look cheap, or lead its import trading partners to criticize it as a currency manipulator. Because products are cheaper, people like their products and buy less local products. This will lead to the loss of employment in importing countries. Manipulating countries sacrifice the interests of other countries, create more employment opportunities for their own countries and enjoy higher GDP.

According to the agreement of the International Monetary Fund (hereinafter referred to as the agreement), the Executive Board of the International Monetary Fund passed a resolution on April 29th 1977, aiming at avoiding manipulating the exchange rate or the international monetary system. The resolution stipulates three principles: first, IMF members have the obligation to avoid manipulating the exchange rate, manipulating the international monetary system, preventing other member countries from effectively adjusting the balance of payments, or unfairly gaining a competitive position superior to other member countries; Second, if the disorder of the foreign exchange market causes short-term interference to the currency exchange rates of member countries, in order to eliminate this disorder, the member countries concerned should intervene in the foreign exchange market when necessary; Third, such intervention should fully consider the interests of other member States, including the interests of the foreign exchange issuing countries involved.

Some analysts pointed out that whether a country is listed as a currency manipulator is more due to political factors, and economic and financial factors may take a back seat.