Chinese yuan to become global reserve currency

The International Monetary Fund (IMF) gave the yuan a vote of confidence on Monday by including the Chinese currency in its Special Drawing Rights (SDR) uniting the US dollar, euro, British pound and the Japanese yen.

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Twitter Screengrab from RT

AS REPORTED BY RT:

Adding the yuan as a reserve currency will allow central banks to buy more of the Chinese currency, and boost investment in the Chinese stock market. According to Standard Chartered bank, within five years market players will invest at least $1 trillion in Chinese assets.

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  • George Healey

    Doesn’t the demotion of the dollar from sole status as reserve currency now surplus a lot of greenbacks to fly home and upset our fiscal apple cart?