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Yuan joins SDR basket on Oct 1, but analysts say full liberalisation not in sight

They add that Beijing's efforts to make its financial system more transparent have retrograded in the past year
Friday, September 30, 2016 - 05:50

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The yuan will enter the SDR basket at a weighting of 10.92 per cent. The US dollar will remain relatively unchanged at 41.73 per cent, with the euro, yen and pound at weightings lower than this.

Beijing

THE Chinese currency will be included in the special drawing rights (SDR) basket of the International Monetary Fund (IMF) from Saturday.

Although this means the yuan will become a reserve currency, analysts say it still has long way to go before it becomes fully liberalised

sentifi.com

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