IMF staff review recommends delaying currency basket adoption of yuan

Section:

By David Chance and Krista Hughes
Reuters
Tuesday, August 4, 2015

WASHINGTON -- The International Monetary Fund should put off any move to add the yuan to its Special Drawing Rights currency basket until September 2016, an IMF staff report said, a move that would effectively end the Chinese currency's chances of an early inclusion.

The report, published today, comes after Beijing launched a major diplomatic push for the yuan's inclusion in the IMF basket as part of its long-term strategic goal of reducing dependence on the dollar.

The report said the implementation of any formal decision to add the yuan to a basket of currencies comprising dollars, euros, pounds, and yen should be delayed so as not to disrupt financial market trading on the first day of 2016. ...

... For the remainder of the report:

http://www.reuters.com/article/2015/08/04/us-imf-currency-china-idUSKCN0...



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