Yuan Halts Three-Day Drop as China Pushes IMF Bid, Usage Rises

China’s yuan rose for the first time in four days on speculation policy makers will take steps to boost its global usage as it seeks to obtain reserve-currency status.

The yuan has become the most-used in Asia for payments to China and Hong Kong, the Society for Worldwide Interbank Financial Telecommunications said in a statement on Wednesday. Chinese officials are seeking to have the currency added to the International Monetary Fund’s Special Drawing Rights basket. The IMF’s mission in China will work closely with authorities toward inclusion, which is “not a matter of if, but when,” according to a report released Tuesday.