The Renminbi as an IMF Reserve Currency

... November 2015, the International Monetary Fund (IMF) Executive Board decided to include the Chinese renminbi in the reserve currency basket. According to IMF Managing Director Christine Lagarde, this is a recognition of the progress that the Chinese ... ... down in the years to come, it will overturn the arguments of those who today believe that the inclusion of the renminbi in the SDR basket will give it positive impetus. As Deputy Governor of the People’s Bank of China, Yi Gang, said immediately ...