IMF approves Chinese yuan as a reserve currency
The move is largely symbiolic and will take a year to be effective.
The International Monetary Fund is adding the Chinese yuan to its basket of four world currencies that comprise its special drawing rights for last-resort loans.
The IMF’s move has been signalled for some time and won’t take effect until late next year.
At present, the yuan, also known as the
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Nevil Gibson
Tue, 01 Dec 2015
Tue, 01 Dec 2015
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IMF approves Chinese yuan as a reserve currency
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