China Yuan Now Approved By IMF as Reserve Currency

      

The Chinese Yuan has now been approved by the International Monetary Fund, IMF as one of the elite reserved Currency,joining the Dollar,Euro, British Pounds and the Japanese Yen.
With this, the China Yuan will join the dollar,Pound the Euro and Yen next year in the list of official currency the IMF uses as international reserve asset.

IMF, managing director Christine Lagarde called the decision  "an important milestone in the integration of the Chinese economy into the global financial system"."It is also a recognition of the progress that the Chinese authorities have made in the past years in reforming China's monetary and financial systems," she said.