IMF Announces China Renminbi (Yuan) In SDR Reserve Currency Basket
Channel: Global Currency Reset
Date: 2015-11-30

IMF Yuan SDR - http://globalcurrencyreset.net/imf-chinese-yuan-renminbi-added-to-sdr-reserve-currency-basket/ SOURCE: http://globalcurrencyreset.net/china-sdr  The International Monetary Fund has officially added the Chinese Yuan (Renminbi) to the SDR (Special Drawing Rights) basket of international currencies. 
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IMF’s Executive Board Completes Review of SDR Basket, Includes Chinese Renminbi
Press Release No. 15/540
November 30, 2015

The Executive Board of the International Monetary Fund (IMF) today completed the regular five-yearly review of the basket of currencies that make up the Special Drawing Right (SDR). A key focus of the Board review was whether the Chinese renminbi (RMB) met the existing criteria to be included in the basket. The Board today decided that the RMB met all existing criteria and, effective October 1, 2016 the RMB is determined to be a freely usable currency and will be included in the SDR basket as a fifth currency, along with the U.S. dollar, the euro, the Japanese yen and the British pound. Launching the new SDR basket on October 1, 2016 will provide sufficient lead time for the Fund, its members and other SDR users to adjust to these changes.

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This is a huge step in the right direction for China.  Their economy has already surpassed the United States' and this pushes them into new territory. 

Will the US Dollar no longer become the top traded reserve currency?  Time will tell.

#chineseyuan
#usdollar
#dollar

https://www.youtube.com/watch?v=uEO9nXozqPg