20.04.2015 - China wants to follow rules on currency basket - IMF official
China does not want to bend the rules in its favour to include the yuan in the IMF's basket of major reserve currencies, the No. 2 official at the International Monetary Fund said. Beijing tightly controls the yuan's movements and has strong capital controls, but it is pushing for increased use of the currency for trade and investment as part of a long-term strategic goal to reduce dependence on the dollar and to raise its global economic clout. That push has centred on the Special Drawing Rights, a basket that now contains dollars, yen, pounds and euros and serves as the IMF's main unit of account..........................................Full Article: Source
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