| The yuan is set to join the IMF’s exclusive club of reserve currencies, with the fund’s staff supporting its inclusion after months of persuasion and policy changes by China. Approval by the International Monetary Fund’s executive board would mark a major milestone for the yuan, officially known as the renminbi, or literally the “people’s currency.”
It will make more countries comfortable including it in their foreign-exchange holdings, while boosting President Xi Jinping’s efforts to open up the world’s second-largest economy. Here’s a look at what’s next as the IMF board prepares to meet...............................................Full Article: Source
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