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IMF's Lagarde supports proposal to include yuan in SDR

Reuters with CNBC
International Monetary Fund Managing Director Christine Lagarde.
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International Monetary Fund Managing Director Christine Lagarde said Friday that she supports the findings in her staff's proposal to include China's yuan in its Special Drawing Rights currency basket.

"I support the staff's findings," she said in a statement.

Lagarde said she will chair a meeting of the IMF's executive board on Nov. 30 to consider the yuan's inclusion in the basket.

Beijing has pushed for the yuan to join the basket as part of its long-term strategic goal of reducing dependence on the dollar and to mark the country's coming of age as an economic power.

This is breaking news. Please check back for updates.

— CNBC's Everett Rosenfeld contributed to this report.