Yuan IMF Reserves Entry Seen as More Symbolic Than Game-Changing
- Aberdeen, Investec say it won't affect investment decisions
- IMF executive board to vote on SDR addition on Nov. 30
Chinese one-hundred yuan banknotes are arranged for a photograph.
Photographer: Tomohiro Ohsumi/BloombergThis article is for subscribers only.
For Aberdeen Asset Management Plc and Investec Asset Management Ltd., the yuan’s likely ascension to reserve-currency status next week is more symbolic than game-changing.
The fund managers, which oversee a combined $600 billion, aren’t expecting a rush of investment in China after the International Monetary Fund’s executive board votes on whether to add the currency to its Special Drawing Rights basket on Nov. 30.