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China says U.S. agrees to have yuan in IMF basket
The United States supports China's bid to have the yuan included in the International Monetary Fund's basket of currencies, Chinese Vice Premier Wang Qishan said on Friday after high-level talks between Beijing and Washington.China wants the yuan to be part of the IMF basket of currencies as part of long-term plans to turn the yuan into an alternative reserve currency next to the dollar and the euro. But the IMF has said a currency needs to be convertible before it can be included in the basket. China envisions the yuan will only be convertible by 2015. Posted by: tipper 2012-05-05 |
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