The International Monetary Fund has called for a meeting to prepare for the inclusion of the Chinese yuan in its special drawing right baskets. The yuan will join the dollar, euro, yen and British pound in the basket that forms the IMF's unit of account. Relative amounts of these currencies will be fixed for five years on September 30 to achieve weightings determined last year.

Director of the IMF's Strategy, Policy and Review Department Siddarth Tiwari says the inclusion is an important milestone in China's global financial integration, and recognizes China's continuing reform efforts. The inclusion will officially take effect on October the first.