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Chinese Yuan May Become World Currency After IMF ‘Approval’

Thursday, May 28, 2015 14:11

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On Tuesday, the IMF stated that the Chinese yuan is “no longer undervalued.” This would enable China to come closer to its goal: to establish the yuan as a world currency.

The rise of the Chinese yuan as a world currency has no more obstacles as it is now considered “no longer undervalued” by the International Monetary Fund, DWN reported.

China was frequently accused by a number of its trade partners of keeping the yuan artificially low to gain trade advantages and make its exports cheaper and, therefore, more attractive for customers abroad. However, the IMF concluded that over last few years the exchange rate had developed in such a way that it can be now officially recognized as fairly valued …. http://sputniknews.com

Source: http://luismmx.blogspot.com/2015/05/chinese-yuan-may-become-world-currency.html

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