The Chinese yuan strengthened offshore as the International Monetary Fund approved its inclusion in its basket of reserve currencies, a move that will integrate the country into a global financial system dominated for decades by the U.S., Europe and Japan. The yuan rose 0.09 percent to 6.4267 a dollar as of 7:46 a.m. in Hong Kong on Tuesday after the IMF’s executive board voted to add it to the Special Drawing Rights, which includes the dollar, euro, pound and yen. The yuan, known as the renminbi, reversed losses on Monday amid speculation Chinese banks sold the dollar to support its exchange rate. The yuan’s ... (full story)