IMF to announce Chinese Yuan reserve status

Just the US dollar, the euro, Japan's yen and the British pound are currently part of this select band.

Earlier this month, IMF head Christine Lagarde backed the yuan's inclusion.

If the decision is made, the yuan is likely to join the basket next year, experts said.

China is the world's second largest economy behind the US and asked for the yuan to become a reserve currency last year.

The last change made to the basket was in 2000, when the euro replaced the deutschmark and the franc.

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