China retains IMF reserve-currency backing

Support from big economies is key for yuan to join fund's SDR basket of currencies

Mon, Aug 10, 2015 - 5:50 AM

Paris

CHINA has retained the support of some major economies to win International Monetary Fund recognition of the yuan as a reserve currency, even as an IMF staff report assessed that it hasn't cracked the ranks of the most widely-used global counterparts.

Germany reiterated...