China’s Yuan Joins IMF Reserves in First Revision Since 1999

  • Authorities will keep yuan stable to avoid hurting image: OCBC
  • IMF’s Lagarde says inclusion reflects progress made by China

The yuan took on the mantle of a global reserve currency Saturday, a milestone that is seen breathing life into China’s bond markets by prompting estimated inflows of as much as $1 trillion over the next five years.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.