Yuan Receiving Boost From IMF

Yuan Receiving Boost From IMF

The International Monetary Fund is expected to add the yuan to a special group of global currencies, a boost in China’s efforts to make the yuan an international currency on the same level as the US dollar. “Analysts say the shareholders in the Washington-based IMF will vote on Monday to include the yuan, also known as the renminbi, as the fifth member of its special drawing rights currency basket alongside the dollar, the Japanese yen, sterling and the euro.”

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