IMF gives China’s currency prized reserve asset status

by KRISTA HUGHES  |  published on December 1, 2015

The International Monetary Fund admitted China’s yuan into its benchmark currency basket on Monday, as expected, in a victory for Beijing’s campaign for recognition as a global economic power.

The decision to add the yuan, also known as the renminbi, to the Special Drawing Rights (SDR) basket alongside the dollar, euro, pound sterling and yen, is an important milestone in China’s integration into global finances and a nod to the progress it has made with reforms.

To meet the IMF’s criteria, Beijing has undertaken a flurry of reforms in recent months, including better access for foreigners to Chinese currency markets, more frequent debt issuance and expanded yuan trading hours.

  • Faithful American

    We are now OFFICIALLY on the ROAD to WATCHING the DISAPPEARANCE of our HIGHLY INFLATED US DOLLAR and WE will WATCH it DECLINE even FURTHER into eventual COLLAPSE and ECONOMIC CHAOS throughout the ENTIRE WORLD!

?>

Keep the Fake News Media in check.

Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!

We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.
View our full privacy policy.

Facebook Auto Publish Powered By : XYZScripts.com
Google Analytics Alternative