Chinese Yuan is given reserve currency status, says IMF
November 30, 2015 – China’s currency to have 10.92% weighting, topping the yen and the pound.
Lagarde says Chinese currency meets ‘freely usable’ standard. Continue reading “IMF Green Lights China’s Yuan” →
The staff nod makes approval by the fund’s board this month all but certain
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 Continue reading “IMF executive board to vote on Yuan inclusion Nov 30” →
“China’s currency is poised to enter the big leagues” alongside the dollar
The rumors that have been circulating in recent weeks have all but been confirmed: China’s yuan, or renminbi, currency is about to secure the IMF’s approval for world reserve status. Continue reading “IMF reportedly set to elevate Yuan Nov. 30” →
Treasury Secretary Lew met with Chinese Vice Premier Wang Yang and Finance Minister Lou Jiwei on the sidelines of the G-20 Leaders Summit
Is it just odd timing that this announcement comes behind the chaos of the Paris attacks? Or is the quiet announcement designed to float under the radar? Is this a classic diversion technique, for example, when criminals start a fire in one place so they can rob a bank around the corner? Continue reading “IMF officially greenlights the acceptance of China’s currency behind chaos of Paris attacks” →