Careful China: Reserve Currency Brings Boom & Busts

Careful China: Reserve Currency Brings Boom & Busts

A big shift in currency markets is afoot now that the International Monetary Fund has decided to add the Chinese renminbi -- commonly known as the yuan -- to its Special Drawing Rights list of currencies. That means that the IMF approves of countries holding yuan as foreign-exchange reserves. The other currencies on the list are the U.S. dollar, British pound, Japanese yen and the euro, so the yuan is joining a pretty elite group. 

Read Full Article »
Comment
Show commentsHide Comments

Related Articles

Search Stock Quotes
Commodity Prices