Our top story this morning... In a decision of huge global significance，...
China′s currency， the yuan， will enter the elite league after it got the green light
from the International Monetary Fund to join its basket of reserve currencies.
The IMF′s executive board voted on Monday， in favor of allowing the yuan to join its
benchmark foreign exchange basket， known as Special Drawing Rights， or SDR.
The IMF says the Chinese currency met all existing criteria，... and effective October
first next year， the yuan will be included in the SDR basket as a fifth currency， along
with the U.S. dollar， euro， British pound and Japanese yen.
The yuan will represent approximately eleven percent of the reserve basket， above both
the pound and yen， which will each make up about eight percent.
The dollar will remain as the predominant SDR currency， representing about 41 percent
of the basket. It marks the first time an additional currency
has been added to the SDR basket in 35 years.