Benchmark
China's Yuan Still Faces a Long Road to Global Prominence
Investors might be cautious after currency drop, stocks volatility
China Outlook: Yuan to Weaken Further in 2016?
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There's no doubt 2015 was a watershed year for the Chinese currency.
The yuan in May was judged no longer undervalued by International Monetary Fund. Less than three months later, officials in Beijing roiled global markets with a surprise devaluation that triggered the currency’s steepest decline in two decades. Before the year was over, the IMF decided to add it to its exclusive club of reserve currencies alongside the dollar, euro, pound and yen.