China's currency, the yuan, has taken another step forward towards joining the elite group of global reserve currencies.
IMF staff experts have concluded that the renminbi "meets the requirements to be a 'freely usable' currency.
The staff propose that the Executive Board include the RMB in the SDR basket as a fifth currency, along with the British pound, the euro, the Japanese yen, and the U.S. dollar.
On November 30, IMF chief Christine Lagarde will chair a meeting of the Board to make the final decision on whether the yuan can be included in the SDR basket.
For more on Renminbi's internationalization, we're joined live by Mike Bastin, Director of The China Business Centre based in London.
