Closer Look: IMF's Decision on Yuan Means More Reforms for China

(Beijing) – The International Monetary Fund has announced it will include the yuan in the basket of currencies that make up its special drawing rights (SDR) upon completion of a review of the basket of reserve assets by its executive board.

The new SDR, which already included the U.S. dollar, euro, yen and British pound, will take effect on October 1, 2016.