IMF poised to put Chinese yuan in elite currency basket


(Worthy News) – The International Monetary Fund is expected to approve inclusion of China’s yuan in its SDR basket of elite currencies on Monday, rewarding Beijing’s strong pursuit of the global status.

The IMF executive board is scheduled to meet Monday to decide on the recommendation by staff experts earlier in November to include the yuan, also known as the renminbi, alongside the US dollar, euro, Japanese yen and British pound in the grouping.

While not a freely traded currency, the SDR (special drawing right) is important as an international reserve asset, and because the IMF issues its crisis loans — crucial to struggling economies like Greece — valued in SDRs. [ Source ]

11
people are currently praying.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Discuss this article in our forums

Follow us on X

Latest Worthy News

Netanyahu: Elimination of Iranian Security Chief Could Open Door to Regime Change
Chief Justice Roberts: ‘Hostility Towards Judges Is Dangerous And It’s Got To Stop’
Gabbard Grilled During Senate Intelligence Hearing, Maintains Iran A Threat
U.S. House Tanks Balanced Budget Amendment As National Debt Tops $39T
Christians Urge Cuba To Free Detained Teen Amid Crackdown On Churches
Iran Confirms Death Of Intelligence Minister As US Counterterror Chief Resigns Over War (Worthy News In-Depth)
Iran War Escalates As Tehran Threatens Gulf Energy Sites While US Carrier Withdraws After Fire
Elderly Christian Acquitted In Pakistan Blasphemy Case After Two-Year Ordeal
Russia Deepens Military Support to Iran Amid Escalating Conflict, WSJ Reports
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News