IMF staff urges no rush to add China yuan to currency basket

Reuters WASHINGTON (Reuters) — The International Monetary Fund should put off any move to add the yuan to its benchmark currency basket until after September 2016, IMF staff said in a report which showed a mixed performance of the renminbi on meeting key financial norms. The report, published on Tuesday, comes after Beijing launched a major diplomatic push for the yuan to be added to the IMF’s Special Drawing Rights basket as part of its long-term strategic goal of reducing dependence on the dollar. The IMF board is scheduled to make a decision in November on whether to...