China Yuan Could be Included in its Special Drawing Rights Currency Basket

Latest update news about "special drawing rights" currency for safe haven currency China Yuan, Finally The International Monetary Fund's Beijing office told Reuters no date had been set for reviewing whether to include the Chinese yuan in its reserve currency basket, responding to a report in local media that the review would be delayed. China yuan as a Special drawing rights would be delayed

As reported before, The Chinese government has set its sights on securing a place for the yuan in the basket alongside the safe haven currency U.S. dollar, the euro, the British pound and Japanese yen as part of its goal of raising the international profile of the currency. and the true act for liberalisation the Yuan currency, could be the new safe haven currency

Meanwhile, China Business News, a respected domestic finance newspaper, said on its website that the IMF was pushing back its plan to make a decision from Nov. 4 to Nov. 30. but this news could blocked, The IMF official in Beijing, however, said he did not know where that information could have come from.



"We will certainly convene a meeting sometime in November, but we do not have a specific set date yet," the official surnamed Li said. Every five years the IMF reviews the composition of the foreign currencies included in its Special Drawing Rights currency basket, intended to serve as a source of global financial stability and liquidity in case of financial crisis.