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China's new currency status points to weaker yuan

Wednesday, December 2, 2015 - 05:50
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The International Monetary Fund (IMF) has endorsed China's financial reforms by adding the renminbi to its basket of reserve currencies.

THE newly global yuan could get weaker. The International Monetary Fund (IMF) has endorsed China's financial reforms by adding the renminbi to its basket of reserve currencies. The largely symbolic boost will do little to counteract the pressure from a slowing economy, lower interest rates and