Yuan Set to Become a “Reserve Currency?”

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http://www.wallstreetdaily.com/2015/10/ ... ncy-china/

Yuan Set to Become a “Reserve Currency?”

It’s a club reserved for the world’s elite economies…

Created in 1969, the International Monetary Fund Special Drawing Rights (SDRs) is an international reserve asset that’s intended to supplement member countries’ reserves.

Its value is based on the value of four key currencies – the U.S. dollar, the euro, the Japanese yen, and the British pound.

Well, guess who’s pounding on the IMF’s door, looking to gain access to this exclusive club of high rollers?

China.

Now boasting the world’s second-largest economy, the country wants its yuan currency to be elevated to reserve status.

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