- The International Monetary Fund is likely to add the yuan to its basket of reserve currencies
Market news
30 November 2015
The International Monetary Fund is likely to add the yuan to its basket of reserve currencies
The International Monetary Fund (IMF) is likely to add the yuan to its basket of reserve currencies this Monday. The IMF's basket of reserve currencies (Special Drawing Rights SDR)) includes the yen, euro, pound and U.S. dollar.
The IMF Managing Director Christine Lagarde have already endorsed the idea.
The SDR totals $280 billion. It was modified was in 2000, when the euro replaced the German Deutsche Mark and the French franc.
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