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China Yuan "quite a way" from being a reserve currency - Lew
September 29, 2016 / 3:46 PM / a year ago

China Yuan "quite a way" from being a reserve currency - Lew

MEXICO CITY, Sept 29 (Reuters) - The Chinese Yuan is “quite a way” from becoming a global reserve currency despite its inclusion in the International Monetary Fund’s currency basket, and China needs further reform to reach that goal, U.S. Treasury Secretary Jack Lew said on Thursday.

Speaking in Mexico City, Lew added that the widespread use of the U.S. dollar as a global reserve currency was a singular feature of the U.S. economy.

Reporting by David Lawder and Frank Jack Daniel

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