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The International Monetary Fund welcomed China's yuan into its elite reserve currency basket on Monday, recognizing the ascendance of the Asian power in the global economy. The yuan, also known as the renminbi, will join the US dollar, euro, Japanese yen and British pound next year in the basket of currencies the IMF uses as an international reserve asset. The decision by the IMF executive board solidifies China's ambition to see the government-controlled yuan achieve global status as one of the world's top currencies alongside the United States, Europe and Japan.
BRUSSELS (AP) — Turkey won't apologize to Russia for shooting down a warplane operating over Syria, the Turkish prime minister said Monday, stressing that the military was doing its job defending the country's airspace.