Renminbi’s Ascension to Major Reserve Currency
Posted on 12/01/2015
The International Monetary Fund (IMF) officially added the yuan, also known as the renminbi, to the Special Drawing Rights (SDR) basket. The yuan joins other currencies such as the U.S. dollar, euro, Japanese yen and pound sterling. The new SDR basket will be launched on October 1, 2016. The Beijing government met the IMF’s criteria […]
