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Yuan ranks ahead of yen, pound in IMF basket

Weights of each currency will be 41.73 per cent for the US dollar, 30.93 per cent for the euro, 10.92 per cent for the yuan, 8.33 per cent for the yen and 8.09 per cent for the pound
Monday, October 3, 2016 - 05:50
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"Expansion of the SDR basket is an important and historic milestone for the SDR, for the Fund, for China and for the international monetary system," said IMF managing director Christine Lagarde.

Washington

THE weekend announcement by the IMF (International Monetary Fund) of a new valuation basket for its international reserve currency unit known as Special Drawing Rights or SDRs following inclusion of the yuan has implications for the international monetary system as well as for

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