The International Monetary Fund has added China’s currency, the yuan, among reserve currencies.

The International Monetary Fund has added China’s currency, the yuan, among reserve currencies.Before now, the reserve currencies comprised of the US dollar, the euro, the yen and the British pound.The IMF said the yuan has met all existing criteria’ and should become part of the reserve basket beginning from October next year.The announcement was made by IMF Managing Director; CHRISTINE LAGARDE who described the move as an important milestone in the integration of the Chinese economy into the global financial system.