Latest forex news, China To Pay For IMF Bonds Using Yuan - Document

China To Pay For IMF Bonds Using Yuan - Document

Fri, Sep 4 2009, 04:36 GMT

China To Pay For IMF Bonds Using Yuan - Document BEIJING -(Dow Jones)- China will buy International Monetary Fund bonds using the yuan, according to the agreement document posted on the IMF's Web site.

The IMF said Wednesday China has signed an agreement to purchase approximately $50 billion worth of notes from the fund denominated in Special Drawing Rights.

The SDR is a quasicurrency issued by the fund.

-By Terence Poon, Dow Jones Newswires; 8610 6588 5848; terence.poon@dowjones.com

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September 04, 2009 00:36 ET (04:36 GMT)