| Reserve Bank of India (RBI) Governor Raghuram Rajan voiced support for the yuan's International Monetary Fund (IMF) ambitions, combining a call for multilateral institutions to grant greater recognition to emerging markets, with a dismissal of claims that China sparked a currency war in August, according to the South China Morning Post.
It's unfair to pin the blame on the August 11 yuan devaluation because currencies were already declining due to the "unconventional monetary policies" of some nations, Rajan was cited as saying in an interview with the newspaper. RBI is including yuan assets to diversify its holdings, he said...............................................Full Article: Source
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