Post Profile






China's yuan joins elite club of IMF reserve currencies

``The yuan joins the U.S. dollar, the euro, the yen and British pound in the IMF's special drawing rights (SDR) basket, which determines currencies that countries can receive as part of IMF loans. It marks the first time a new currency has been added since the euro was launched in 1999.The IMF is adding the yuan, also known as the renminbi, or "people's money", on the same day that the Communist Party celebrates the founding of the People's Republic of China in 1949.
read more

share

Related Posts


IMF Director Lagarde: China’s Yuan Should Join Reserve Basket

Business & Finance : Business Pundit

Christine Lagarde, the International Monetary Fund’s Managing Director, said Friday that China’s yuan should join the agency’s basket of reserve currencies after a staff report bolstered its case. IMF staff reviewed the Chinese curr...

Everything just changed for China's currency

Business & Finance : Business Insider: Money Game

The International Monetary Fund has officially designated the Chinese yuan a global reserve currency. That means that it joins an elite group of currencies — the dollar, the yen, the euro and the pound — in the Special Drawing Right...

Coming of Age: China’s Yuan Joins SDR Basket As IMF Reserve Currency

Business & Finance : Zero Hedge

Coming of Age: China’s Yuan Joins SDR Basket As IMF Reserve Currency Christine Lagarde and the IMF Executive Board recently announced their intention to include the Chinese renminbi (RMB) in the Special Drawing Rights’ (SDR) valuati...

China's yuan joins world's elite currencies

Business & Finance / Mortgage & Banking : Mortgage Lender Implode-O-Meter

``The IMF's executive board decided to include the yuan, also known as the renminbi, in its Special Drawing Rights basket. The SDR -- which currently includes the dollar, euro, British pound and Japanese yen -- is an asset that can ...

What China's SDR Bond Issue Really Means (QUIET INTRODUCTION OF ONE-WORLD CURRENCY!)

Business & Finance / Mortgage & Banking : Mortgage Lender Implode-O-Meter

``Official SDRs can be redeemed for dollars, euros, yen, pounds, and soon yuan through the IMF. However, the new private SDR, or M-SDR as the IMF calls it, cannot. The new bonds represent a claim on the IBRD. Since the IBRD doesn't ...

Comments


Copyright © 2016 Regator, LLC