The international monetary fund IMF have officially announced the inclusion of yuan into the special drawing right with effect from October 1st 2016. This means that the RMB can be used by the 189 members of IMF,and members members of IMF can officially borrow and pay back with RMB. The yuan is now the 5th most active currency to be used globally.
The RMB was included in the SDR because of the huge global domestic reform it has gone through over the years which have created a global economic impact. The currency will occupy 10.92 % of the basket. One of the interesting features influencing the use of RMB is the export and import from China.
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