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Showing results for tags 'reserve currency.'.
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GMT 8:24 2015 Saturday, October 24: Last Updated IMF: Yuan will "probably" basket of currencies Beijing: said representatives from the International Monetary Fund to Beijing that the Chinese currency will have "probably soon" to the unit composition of the Fund's account, as reported by Bloomberg News Saturday. The agency quoted Chinese officials nominated without the mention of Chinese officials as the fund that the current composition of the basket of currencies will have "probably" the Chinese currency. The agency added that "Chinese officials concerned and are confident of getting the green light and came to this data which will be announced this decision." The IMF has given himself until September 2016 to change the currency, which currently includes four composition of a basket of currencies (dollar, euro and sterling yen) and the pound. The Board of Directors decided that the IMF unit of account will remain intact until that date. But before that, the fund may decide at the conclusion of the five-year review scheduled for the end of the 2015 annexation of the yuan to a basket of currencies. And the Board of Directors, which represents the 188 member states will meet in November to discuss the issue. Beijing effort to expand the use of its currency in the world and do not provide. China's central bank signed a currency swap with about thirty central bank agreements. But the inclusion of the yuan to a basket of currencies could lead to its use as a "reserve currency".
