China’s RMB on the world stage, now & tomorrow

SINGAPORE (Sept 30): Starting Saturday Oct 1, China’s currency will be included in the International Monetary Fund’s (IMF) official foreign exchange reserves database.

This comes nearly a year after the organisation gave the nod on Nov 30, 2015, for the renminbi (RMB) to join the US dollar, the euro, the pound sterling and the Japanese yen in its Special Drawing Rights (SDR) basket.

(See also: Yuan IMF reserves entry seen as more symbolic than game-changing)

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