China seen winning IMF's reserve-currency endorsement for yuan

Hong Kong

CHINA's goal to attain endorsement of the yuan as a reserve currency will be achieved this year, according to most economists surveyed by Bloomberg.

Eleven out of 16 polled by Bloomberg in the June 18-24 period predict the International Monetary Fund (IMF) will add the Chinese currency to its Special Drawing Rights (SDR) basket at a review in October. The Washington-based institution rejected the yuan in 2010 on the grounds it was not "freely usable".