Yuan joins SDR basket on Oct 1, but analysts say full liberalisation not in sight

Beijing

THE Chinese currency will be included in the special drawing rights (SDR) basket of the International Monetary Fund (IMF) from Saturday.

Although this means the yuan will become a reserve currency, analysts say it still has long way to go before it becomes fully liberalised and makes meaningful global impact.

The move to include it is in line with Beijing's aim of internationalising its currency, in tandem with the growth of its economic role on the world stage.

Inclusion will make the yuan a "freely usable" currency in the eyes of the IMF, meaning IMF members can opt to sell SDRs for yuan to m…