China’s yuan joins the IMF’s basket of reserve currencies on Saturday in a milestone for the government’s campaign for recognition as a global economic power. The yuan joins the U.S. dollar, the euro, the yen and British pound in the IMF’s SDR basket, which determines currencies that countries can receive as part of IMF loans. Source Reuters
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Greece reported having some 149.1 tonnes of gold reserves at the end of 2016 amounting in the value of 5.26 billion euros. Almost half of that gold is kept in vaults abroad, and after a Greek newspaper reported that half of its gold reserves had been handed over to the ECB. Source: Greek Reporter
Top advisers to French presidential candidate Marine Le Pen have met with strategists and analysts from BlackRock Inc, Barclays Plc and UBS Group AG, among other firms to explain their economic program and plans to withdraw France from the euro. They have met with analysts from British and American financial institutions. Source: Bloomberg
The European Central Bank will not put a sudden end to its asset purchase program, ECB policymaker Jens Weidmann said in an interview with German newspaper Frankfurter Allgemeine Sonntagszeitung. Weidmann reiterated his criticism of the ECB’s asset purchases, saying he saw them “very critically”. Source: Reuters