IMF approves renminbi as SDR currency as questions raised on hedging

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The renminbi will be included in the International Monetary Fund's special drawing rights basket from October 1, 2016, the fund announced today (November 30). The confirmation came after the executive board 'green-lit' the first addition to the coveted basket since the euro replaced the Deutschmark and the French franc in 1999.

According to a public statement the board determined the renminbi met "all existing criteria" for inclusion in the basket, alongside the US dollar, euro, Japanese yen and

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