IMF to make Chinese yuan reserve currency in historic move

view arial, rx sans-serif;”>This will not help the dollar ....

Yuan

The International Monetary Fund is to give the yuan a historic vote of confidence on Monday when it includes the Chinese currency in its elite club of major currencies.

The yuan, also known as the renminbi, is widely expected to be added to the IMFs group of international reserve currencies after an IMF meeting held by its managing director Christine Lagarde.

It comes after lengthy efforts by Chinese officials to legitimise the yuan, which critics say has been kept artificially cheap to artificially boost exports in the worlds second-largest economy. …

http://www.telegraph.co.uk/finance/currency/12023599/IMF-to-make-Chinese-yuan-reserve-currency-in-historic-move.html

 

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2 Responses to IMF to make Chinese yuan reserve currency in historic move

  1. William "Bill" Hicks November 29, 2015 at 4:10 pm

    Besides China, who gains?……..That’s the million yuan question.

    Reply

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