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IMF Puts off Decision on Using China's Currency for Reserve Status

The International Monetary Fund says it will delay a decision by a year on whether or not to include China's money in its basket of reserve currencies. Reserve currencies are held by central banks to pay off international debt obligations or influence exchange rates. These include the dollar, yen, euro and the pound. IMF reserve currencies are supposed to be freely usable and widely traded internationally. China strictly controls its currency exchange rate and the flow of currency in...

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