INSIGHT-China knocking on door of IMF's major league, US wavers

April 2, 2015 7:41 AM

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BRUSSELS, April 2 (Reuters) - China is closer to joining the major league of reserve currencies with a deal possible later this year to include the yuan in the International Monetary Fund's unit of account, international finance officials say.

However the United States, where China's growing economic and political muscle is a source of strategic concern in Congress, is reluctant to add the yuan so soon to the basket of currencies that make up the IMF's Special Drawing Rights.

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