BEIJING Chinese authorities have finally gotten their wish: On Oct. 1, the yuan was added to the basket of currencies that make up Special Drawing Rights, the International Monetary Fund's reserve asset. But despite this coup, the Chinese currency is still a long way from challenging the dominance of the dollar.
The value of SDRs is the sum of a specific amount of each currency in the basket at dollar-denominated exchange rates. In addition to the yuan, these include the dollar, euro, yen and pound.
