See our regular market updates summarising our view of the world -December :Currency - What next for the 'big five'?

On Monday 30th November, the IMF welcomed the Chinese currency, the yuan, into its selective basket of reserve currencies. The yuan now joins the US dollar, Euro, Japanese Yen and British pound in the exclusive group of currencies that have Special Drawings Rights (SDRs) at the IMF. Whilst the inclusion is more symbolic than economically significant ( the yuan is now just one more currency into which governments can place their reserves, or use freely to make payments), the move sends a strong signal about China's importance on the world's financial stage.