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Sound Case for Yuan to Join IMF Currencies

Sound Case for Yuan to Join IMF CurrenciesSound Case for Yuan to Join IMF Currencies

A UK Treasury official said on Friday she saw a sound case for China’s yuan currency to be admitted to the International Monetary Fund’s SDR basket, Reuters reported. Asked if the UK supported the yuan’s admission, Treasury financial services director Katharine Braddick said, “I personally think there is a sound evidence base but the IMF will need to look at it in considerably more detail. The yuan is clearly trading, it will be an investment currency, it is here to say,” she said on the sidelines of a London seminar on China.

Financialtribune.com