IMF executive board to vote on Yuan inclusion Nov 30

The staff nod makes approval by the fund’s board this month all but certain

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China’s yuan is poised to enter the big leagues of global currencies, according to the judgment of the International Monetary Fund.

IMF staff have recommended the yuan be included in the fund’s Special Drawing Rights reserve-currency basket, alongside the U.S. dollar, euro, pound and yen, IMF Managing Director Christine Lagarde said Friday.

It would be the first change in the SDR’s currency composition since 2001, when the euro replaced the German deutsche mark and French franc.


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