International Monetary Fund (IMF) today included China's yuan into its elite reserve currency basket. Yuan also known as the Renminbi, will join the US Dollar, Euro, Japanese Yen and British Pound next year in the basket of currencies IMF uses as an international reserve asset.IMF Managing Director Christine Lagarde called the decision an important milestone in the integration of the Chinese economy into the global financial system. She said it is also a recognition of the progress that the Chinese authorities have made in the past years in reforming China's monetary and financial systems. Yuan's entry into the basket takes effect from next year's first of October.