Today is a big day for International Monetary Fund (IMF) and China, as former's board of governors are scheduled to meet today and take a decision on staff recommendation, whether to include Yuan in IMF's Special Drawing Right (SDR) basket or not.

If Yuan is accepted, IMF would be adding a currency in its SDR basket for first time since 1981, other than replacing French Franc and German Mark with Euro back in 1999.

China on the other hand, has long been awaiting and working for this moment to give global recognition to its currency. With IMF's inclusion, Yuan will be officially a reserve currency. Whether it will truly become a reserve currency or not, that remains debatable.

Though it is widely expected to get included in SDR, the world will be watching over the decision to grasp details of the weightages given or the conditionality attached.

While some short term fund flow is expected in favor of Yuan after inclusion, only in the longer run this inclusion will be big game changer.

Yuan is currently trading at 6.398 per Dollar, down -0.16% for the day.