By: Economic & Finance Report
The IMF (International Monetary Fund) has placed the Chinese yuan as one of the few reserved currency for an international scope. Though the yuan has been added the US Treasury has indicated that the US dollar will continuously be the #1 currency reserved used around the globe.
The yuan and other reserved currencies have a long way to go to catch up to the dollar; as the dollar weighting system is 41.7%. Other currencies that follow behind the US dollar are; the Euro (30.9%), the yuan (10.9%), yen (8.3%) and the British pound (8.1%). -SB