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IMF to make Chinese yuan reserve currency in historic move
By James Titcomb
The Telegraph, London
Sunday, November 29, 2015
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 IMF’s 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 world’s second-largest economy. ...
... For the remainder of the report:
http://www.telegraph.co.uk/finance/currency/12023599/IMF-to-make-Chinese...
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