Inclusion of the Chinese yuan in the IMF’s basket of reserve currencies, expected to be approved at the end of this month, heralds China’s increasing presence in global capital markets. With its new status, the yuan will become more widely accepted in international transactions and more widely traded alongside the IMF’s other reserve currencies: the U.S. dollar, the yen, the euro and the pound. Following internal studies by the IMF, Managing Director Christine Lagarde has fully endorsed the staff’s recommendation...
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