Chinese yuan on track to be included in IMF basket -HSBC

http://www.reuters.com/article/2015/10/20/global-forex-renminbi-idUKL8N12K29X20151020


Oct 20 China's yuan "ticks all the right boxes" for inclusion in the International Monetary Fund's SDR list of global reserve currencies, the biggest international bank in China, HSBC, said in a report on Tuesday.
The report by the bank's chief strategist Paul Mackel comes ahead of discussions within the Fund next month on whether to include the yuan, or renminbi, in the basket behind the Special Drawing Rights, a virtual currency that values IMF reserves and emergency payouts to members.
Britain and other members of the Group of 20 leading economies are jostling for position as financial partners for China and have made positive noises about the inclusion of the yuan, which bankers say would be a turning point for trading of the currency.

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Japan has been more cautious, but U.S. Treasury Secretary Jack Lew, who sounded sceptical earlier this year, last month voiced an openness to "a positive review", as long as China carried out promised reforms.