Yuan seen on verge of next stage of internationalization

06/17/2013 | China Daily (Beijing)

China's yuan is just at the stage where it's about to achieve international status comparable with that of the yen and British pound, said Chen Yulu, a member of the monetary policy committee at People's Bank of China. "If trade with Latin America, the African Union, Japan and South Korea could be increasingly settled in yuan, then the currency's internationalization index could be close to the yen and the pound, which means yuan would become the first member of international currency club among the emerging economies," Chen said.

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