Post Profile






China's yuan officially joins the SDR

The yuan's officially in the IMF's basket of reserve currencies. On Saturday, the Chinese currency was added to the IMF's special drawing rights (SDR) basket, joining the US dollar, the euro, the yen, and the British pound. "The inclusion into the SDR is a milestone in the internationalization of the renminbi, and is an affirmation of the success of China's economic development and results of the reform and opening up of the financial sector," the People's Bank of China said in a statement, according to Reuters.
read more

share

Related Posts


Germany Wants Renminbi To Join The IMF Currency Basket

Business & Finance : Business Insider: Money Game

China has long pushed for better representation of developing currencies, specifically the renminbi, in the currency basket behind the IMF's special drawing rights (SDRs). Now, German deputy finance minister Jörg Asmussen has backed...

The yuan hits the big time, gets added to the IMF basket of reserve currencies

China / Shanghai : Shanghaiist

The IMF announced on Monday that China's currency the renminbi (RMB), or yuan, is now eligible to join the Special Drawing Rights (SDR) basket as an international reserve currency. [ more › ]

China's yuan joins world's elite currencies

Business & Finance / Mortgage & Banking : Mortgage Lender Implode-O-Meter

``The IMF's executive board decided to include the yuan, also known as the renminbi, in its Special Drawing Rights basket. The SDR -- which currently includes the dollar, euro, British pound and Japanese yen -- is an asset that can ...

China's yuan joins elite club of IMF reserve currencies

Business & Finance / Mortgage & Banking : Mortgage Lender Implode-O-Meter

``The yuan joins the U.S. dollar, the euro, the yen and British pound in the IMF's special drawing rights (SDR) basket, which determines currencies that countries can receive as part of IMF loans. It marks the first time a new curre...

Coming of Age: China’s Yuan Joins SDR Basket As IMF Reserve Currency

Business & Finance : Zero Hedge

Coming of Age: China’s Yuan Joins SDR Basket As IMF Reserve Currency Christine Lagarde and the IMF Executive Board recently announced their intention to include the Chinese renminbi (RMB) in the Special Drawing Rights’ (SDR) valuati...

Comments


Copyright © 2016 Regator, LLC