01 Dec China’s Renminbi Is Approved by I.M.F. as a Main World Currency
This is huge news, what does this mean for the world economy and monetary policy?
Via the New York Times, by Keith Brasher
Many central banks follow this benchmark in measuring their reserves, which countries hold to help protect their economies in times of trouble. By adding the renminbi to this group, the I.M.F. effectively says that it considers the currency to be safe, reliable and freely usable.