Chinese banknotes are seen in a vendor's cash box at a market in Beijing. China’s renminbi is closer to joining the major league of reserve currencies with a deal to include it in the International Monetary Fund's unit of account. Photo: Reuters

Inclusion of the renminbi may spur wider use of IMF currency unit

David Marsh says Beijing is likely to set up an SDR borrowing platform as early as this summer, in advance of the renminbi’s formal entry into the IMF’s composite currency

Topic |   Yuan

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Chinese banknotes are seen in a vendor's cash box at a market in Beijing. China’s renminbi is closer to joining the major league of reserve currencies with a deal to include it in the International Monetary Fund's unit of account. Photo: Reuters
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