Showing posts with label China's Currencey. Show all posts
Showing posts with label China's Currencey. Show all posts

Tuesday, December 1, 2015

IMF gives China's currency prized reserve asset status

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

 A woman takes pictures of new 100 yuan banknotes she withdrew from a bank in Hangzhou, Zhejiang province, China, November 12, 2015. REUTERS/Stringer
The decision to add the yuan, also known as the renminbi, to the Special Drawing Rights (SDR) basket alongside the dollar,

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