CHINA TOPIX

IMF Not Yet Ready to Add Chinese Yuan in Currency Basket

Benjie Batanes   |

Aug 05, 2015 12:45 PM EDT

The International Monetary Fund (IMF) has released its findings on Tuesday and concluded that it will not add the Chinese Yuan in its Special Drawing Rights (SDR) arsenal until the latter part of next year. This is a clear setback for the Chinese government that has been campaigning for the Yuan to be added in the currency basket as soon as possible.