IMF opens the door after the yuan to add currencies to the SDR basket of

02.12.2015 / 04:03

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The IMF Executive Board this week approved the inclusion of the yuan in the basket of special drawing rights the Fund, together with the currencies of US, Eurozone, UK and Japan. The change will take effect October 1, 2016.

The International Monetary Fund said the currency outside the dollar, the euro, the pound and the yen as the Chinese yuan may qualify for inclusion in the basket of reserve currencies.

Based on export rankings, the currency of South Korea could be next, followed by Singapore and Canadian dollars.

E.Dimitrov JrTrader

Varchev Traders

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IMF opens the door after the yuan to add currencies to the SDR basket of

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