Japan finmin: would not be bad if yuan joins IMF's SDR basket

Japanese finance minister Taro Aso expressed on Friday a supportive view about the inclusion of China's yuan into the International Monetary Fund's currency basket. 

PHOTO: REUTERS

NOV 20, 201510:49 AM

[TOKYO] Japanese finance minister Taro Aso expressed on Friday a supportive view about the inclusion of China's yuan into the International Monetary Fund's currency basket.

"It would not be a bad thing if the yuan is newly added to the international currencies in accordance with rules," Mr Aso told reporters after a cabinet meeting.

The International Monetary Fund is expected to approve on Nov 30 the inclusion of China's yuan into its basket of currency reserves, known officially as Special Drawing Rights. It moved closer to inclusion a week ago, after Fund staff and IMF chief Christine Lagarde gave the move the thumbs up.

REUTERS