The U.S. Treasury Department said on Friday it was delaying a decision on whether China manipulates its currency until after a pair of international summits in November.

The United States and the European Union say China keeps the yuan CNY= artificially low to boost exports, undermining jobs and competitiveness in their economies. [ID:nN14134313]

Treasury Secretary Timothy Geithner told Congress last month he would rally other Group of 20 nations to put pressure on China to let the yuan rise faster.

G20 finance ministers meet on Oct. 22, with a leaders summit following on Nov. 11. Leaders of the Asia Pacific Economic Cooperation forum will meet Nov 13-14.

"The Treasury will delay the publication of the report on international economic and exchange rate policies in order to take advantage of the opportunity provided by these important meetings," it said in a statement.

The department is required to issue a report every six months on whether any country is manipulating its currency for an unfair trade advantage.

The latest report was expected to be released on Friday.

Last month, the House of Representatives approved a bill aimed primarily at China that would allow the United States to slap duties on goods from countries with fundamentally undervalued currencies.

That heightened attention on whether the Obama administration would formally label China as a currency manipulator in the latest report.

Instead, the administration repeated a tactic it used earlier this year, when it delayed the April 15 report to give China more time to enact currency reforms.

In its statement, the Treasury noted the yuan has risen "roughly 3 percent against the dollar" since June 19, when China announced it was renewing exchange rate reform after a pause of nearly two years.

"Since September 2, 2010, the pace of appreciation has accelerated to a rate of more than 1 percent per month," the Treasury said. "If sustained over time, this would help correct what the IMF (International Monetary Fund) has concluded is a significantly undervalued currency."