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Sunday, November 15, 2015

In other more interesting news while you're distracted:IMF Greenlights Addition Of Chinese Yuan To SDR Basket:

http://www.reuters.com/article/2015/11/14/us-imf-china-yuan-idUSKCN0T22OC20151114#5qhjMpCgP3dHo6O4.97


If the yuan's addition wins 70 percent or more of IMF board votes, it will be the first time the number of currencies in the SDR basket - which determines the composition of loans made to countries such as Greece - has been expanded."

I would say that the likelihood of China's yuan joining the IMF currency basket this year is very high," said Hong Kong-based Shen Jianguang, chief economist at Mizuho Securities Asia. 

"The only thing that could deter this is if the U.S. led a group rejecting the yuan's inclusion, which could complicate things.But the United States' current official stance doesn't reflect such an attitude," he said.

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