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IMF Approves Reserve-Currency Status for China's Yuan

  • China's currency to have 10.92% weighting, topping yen, pound
  • Lagarde says China's currency meets `freely usable' standard
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New Dawn for China as Yuan Joins Majors

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The IMF will add the yuan to its basket of reserve currencies, an international stamp of approval of the strides China has made integrating into a global economic system dominated for decades by the U.S., Europe and Japan.

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