| A statement from the International Monetary Fund on the prospects for granting China’s yuan new international status cast doubt among investors, stoking concerns over reforms in the exchange rate and the government’s ability to maintain its tight grip on the currency’s value.
The concerns led traders to push the currency briefly lower in early Asian trading on Wednesday. In often blunt terms, the Washington-based IMF said in a report published Tuesday, and in comments to reporters, that China needs to do more to liberalize its currency-exchange system to earn the yuan a status as an official reserve currency...............................................Full Article: Source
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