Treasury's Lew, China's Wang discuss yuan joining IMF currency basket

WASHINGTON (Reuters) - The Obama administration told Beijing on Friday that the United States still supports including the yuan in the IMF's benchmark currency basket, provided China meets the existing criteria of the international lender.

U.S. Treasury Secretary Jack Lew talked by phone to Chinese Vice Premier Wang Yang, a Treasury spokesperson said in a statement.

"The conversation reflected the importance of China moving more rapidly towards a market-determined exchange rate in an orderly manner," the spokesperson said.

Speaking ahead of the G20 Leaders Summit next week in Antalya, Turkey, Lew also urged China to implement fiscal policies to boost consumption.

International Monetary Fund policymakers plan to meet in November to review whether to include the Chinese yuan in the Fund's reserve currency basket, but a specific date has not been set, the IMF said on Wednesday.

(Reporting by Lindsay Dunsmuir; Editing by Alan Crosby)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Microsoft to reveal Azure cloud sales in financial reporting shift 
• Trump says renewed US campaign against Iran won't last long
• Trump 'happy' Harry and Meghan left the United States: 'I was not a fan'