Yuan's Inclusion in SDR Basket May Lead to Devaluation: Raghuram Rajan

Mumbai: Reserve Bank of India Governor Raghuram Rajan said on Tuesday the inclusion of the yuan in the International Monetary Fund's special drawing rights basket could lead to more devaluation of the Chinese currency. Rajan noted the yuan has risen after authorities initially devalued the currency earlier this year. "And perhaps with the Chinese inclusion in the SDR basket, you may see a little more of that (devaluation)," he said...