China’s Currency Policy Appears to Be Working as Yuan Joins IMF’s Elite SDR Basket
October 04, 2016 at 12:00 PM EDT
On October 1, China’s yuan joined the International Monetary Fund’s (IMF) basket of reserve currencies, a major achievement in Beijing’s effort to internationalize its currency. The milestone also laid to rest any confusion about China’s yuan policy, which had appeared enigmatic in recent years.
