UPDATE 2-China not quite ready for IMF currency basket, U.S. says

March 31, 2015 10:14 PM

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SAN FRANCISCO, March 31 (Reuters) - The United States feels China's yuan does not yet meet the standards for inclusion in the International Monetary Fund's basket of global currencies, Treasury Secretary Jack Lew said on Tuesday.

The yuan's inclusion in the basket, which defines the value of the IMF's reserve assets, would add to China's global status while encouraging more central banks to hold the currency.

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