Chinese yuan to join elite global currency club
by Katie Allen from on (#W70R)
IMF chief says inclusion recognises Beijing's progress at bolstering its monetary and financial systems
China's yuan will be added to an elite basket of global currencies used by the International Monetary Fund, in a boost to Beijing's global economic ambitions.
Shareholders in the Washington-based IMF voted to include the yuan, also known as the renminbi, as the fifth member of its special drawing rights (SDR) currency basket alongside the dollar, the Japanese yen, sterling and the euro.
Related: Q&A: Chinese yuan set to join IMF currency basket
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