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Yuan may get lower share of IMF basket

Nov. 20, 2015 4:43 AM ETCYB, CNY, FXCHBy: Yoel Minkoff, SA News Editor
  • China's yuan may enter the IMF's benchmark currency basket at a lower weighting than previously estimated as the institution considers making weights less related to export volumes and more dependent on financial flows, Reuters reports.
  • Such a change would give the renminbi a lower share in the basket than under the current formula. IMF policymakers are expected to vote on the currency's  inclusion to the Special Drawing Rights basket on Nov. 30.
  • ETFs: CYB, CNY, FXCH

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