; (B) the real effective exchange rate of the currency is undervalued by at least 5 percent, on average and as calculated under paragraph (38), relative to the equilibrium real effective exchange rate for the country’s currency during the 18-month period; (C) during the 18-month period, the country has experienced significant and persistent global current account surpluses; and (D) during the 18-month period, the foreign asset reserves held by the government of the country exceed— (i) the amount necessary to repay all debt obligations of the government falling due within the coming 12 months; (ii) 20 percent of the country’s money supply, using standard measures of M2; and (iii) the value of the country’s imports during the previous 4 months. . (d) Definition of real effective exchange rate undervaluation Section 771 of the Tariff Act of 1930 ( 19 U.S.C. 1677 ), as amended by subsection (c) of this section, is further amended by adding at the end the following new paragraph: (38) Real effective exchange rate undervaluation The calculation of real effective exchange rate undervaluation, for purposes of paragraph (5)(E)(v) and paragraph (37), shall— (A) (i) rely upon, and where appropriate be the simple average of, the results yielded from application of the approaches described in the guidelines of the International Monetary Fund’s Consultative Group on Exchange Rate Issues; or (ii) if the guidelines of the International Monetary Fund’s Consultative Group on Exchange Rate Issues are not available, be based on generally accepted economic and econometric techniques and methodologies to measure the level of undervaluation; (B) rely upon data that are publicly available, reliable, and compiled and maintained by the International Monetary Fund or, if the International Monetary Fund cannot provide the data, by other international organizations or by national governments