HALISTER1: Fitch: Yuan’s IMF Inclusion to Global Reserve Positive for China

Fitch: Yuan’s IMF Inclusion to Global Reserve Positive for China

(Bloomberg) -- The inclusion of the renminbi in the IMF’s Special Drawing Rights basket likely to have a marginal impact on demand for the currency and no immediate effect on China’s sovereign rating, Fitch says in statement.
  • A separate IMF decision to include yuan in its Currency Composition of Official Foreign Exchange Reserves (COFER) survey implicitly bestows it with reserve currency status, which could provide support to China’s rating profile over the medium term: Fitch
  • NOTE: China’s Yuan Joins IMF Reserves in First Revision Since 1999 Link
Link to Fitch Statement
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Source: BFW (Bloomberg First Word)

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