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China takes step to freeing up the yuan

Lisa Murray

It's official. China's much-maligned yuan has finally entered the world's elite currency club.

From Saturday it will join the dollar, euro, pound and yen in the International Monetary Fund's Special Drawing Rights, effectively becoming one of five global reserve currencies.

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Lisa Murray is Enterprise Journalism Editor and host of The Fin podcast. Connect with Lisa on Twitter. Email Lisa at lmurray@afr.com

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    Original URL: https://www.afr.com/world/asia/china-takes-step-to-freeing-up-the-yuan-20160930-grs4fc