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Alternative Market Briefing

Following review Yuan included in reserve currency basket

Tuesday, December 01, 2015

Bailey McCann, Opalesque New York:

The International Monetary Fund has confirmed the inclusion of the Chinese Yuan in the reserve currency basket. This means that loans will be available in Yuan alongside other major currencies including the US Dollar and the Euro.

The basket of reserve currencies is reviewed every five years. The Yuan was first rejected in 2010. At that time the IMF said the currency didn't meet the required criteria. Now the IMF says the Yuan meets the 'freely usable' standard required to become a reserve currency.

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