The International Monetary Fund (IMF) is expected to announce on Monday that China's currency, the yuan, will join the fund's group of international reserve currencies.
Just the US dollar, the euro, Japan's yen and the British pound are currently part of this select band.
Earlier this month, IMF head Christine Lagarde backed the yuan's inclusion.
If the decision is made, the yuan is likely to join the basket next year, experts said.
China is the world's second largest economy behind the US, and asked for its currency to become a reserve currency last year.