| China’s central bank is preparing to take new steps to lift the global profile of the yuan as the International Monetary Fund reviews whether to grant it elite status as a reserve currency.
In a report issued late last week, the People’s Bank of China detailed moves it will take to encourage the IMF to take that step, putting the currency on a par with the dollar, euro, yen and pound sterling. Reserve status could potentially encourage other central banks to increase their holdings of the currency...............................................Full Article: Source
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