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China's push to add renminbi to SDR basket nearing finish line

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LIMA - Thanks to its push to internationalize the renminbi, China in recent years has seen places as far away as Santiago, Luxembourg, Ottawa and Kuala Lumpur become centers for trade involving the Chinese currency. However, the Chinese government is now seeking for a more meaningful prize: the inclusion of the renminbi to the Special Drawing Rights (SDRs), the IMF's international reserve asset used to back...

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