China’s yuan gains IMF reserve status

The International Monetary Fund (IMF) has announced that China’s currency, the yuan, will join the fund’s basket of reserve currencies. Currently just the US dollar, the euro, the yen and the pound are in the group. The IMF said the yuan “met all existing criteria” and should become part of the basket in October 2016.

Source: China’s yuan gains IMF reserve status – BBC News

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