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WiredJa Online News

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WiredJa Online News

IMF Places China’s currency into IMF’s foreign exchange basket

The International Monetary Fund (IMF) officially green-lighted the acceptance of China’s currency – the Yuan – into the IMF’s foreign exchange basket. According to Reuters, this move paves the way for the IMF to place the yuan on a par with the US dollar. This is the latest in a series of global developments that threatens to eliminate the US dollar as the world’s reserve currency.
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