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The yuan as SDR currency - what next?

The short-term impact on the global economy and financial markets is likely to be limited.

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BOOST FOR CHINA: The renminbi's SDR status, if approved, will be strategically important for China. and should act as an external force, as well as a confidence booster, for Beijing to push for further reforms, thus improving the structural underpinning for Chinese asset values.

THE International Monetary Fund (IMF) issued a new staff report on Nov 13 supporting the inclusion of the renminbi in the Special Drawing Rights (SDR). Assuming the IMF executive board approves the proposal at its meeting on Nov 30, the question is what will come next?

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