You are here

IMF's Lagarde says inclusion of China's yuan in SDR basket question of when

YuanBeijingBank200315.jpg
China's yuan at some point would be incorporated in the International Monetary Fund's Special Drawing Right (SDR) currency basket, said Christine Lagarde, Managing Director of the IMF, said in Shanghai on Friday.

[SHANGHAI] China's yuan at some point would be incorporated in the International Monetary Fund's Special Drawing Right (SDR) currency basket, said Christine Lagarde, Managing Director of the IMF, said in Shanghai on Friday.

"It's not a question of if, it's a question of when," she said during a question and answer session following a speech at Fudan University. "There's a still a lot of work to be done and everyone knows that," she said.

Her comments follow speculation that the IMF may decide to include the yuan as one of the currencies in the IMF's SDR basket - which currently only holds dollars, yen, pounds and euros - during its five-year review to be conducted this year.

REUTERS

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom