Renminbi to be identified in IMF Cofer database

Renminbi will join the dollar and other major currencies

The renminbi will be identified separately by the International Monetary Fund in its official foreign exchange reserve database from October 1, it announced last week.

The decision comes as a "growing number of monetary authorities are holding RMB denominated assets as reserves", staff said in a policy paper published alongside the IMF announcement.

A survey conducted in late 2014 found the level of assets held in RMB were similar to those being held in Swiss francs, a currency already separated

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