Yuan Ticks IMF Reserve Entry Boxes as Goldman Sees Outright Yes
- Standard Chartered says inclusion `basically a done deal'
- Yuan onshore rate converges with offshore, markets opening
Bank of Singapore Sees IMF to Adding Yuan to Basket
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China has ticked most of the boxes set by the International Monetary Fund to grant the yuan reserve-currency status, prompting many banks to predict approval this month.
An outright “yes” is the most probable outcome, Goldman Sachs Group Inc. wrote in an Oct. 29 note. JPMorgan Chase & Co. Chief China economist Zhu Haibin said any terms attached may be technical issues. Jukka Pihlman, head of central banks and sovereign wealth funds at Standard Chartered Plc in Singapore and a former adviser to the IMF, said the agency would seek to avoid the uncertainty of conditional approval.