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Market volatility alone not reason to voice concern on yuan: IMF
[WASHINGTON] The International Monetary Fund does not see China's recent market volatility by itself as a reason to voice concern about including the yuan in its benchmark currency basket, an IMF spokesman said on Thursday.
IMF deputy spokesman William Murray said the fund was on track to complete a review of its Special Drawing Rights basket by the end of the year. Beijing has pushed hard for the yuan to be included.
"Some of the recent volatility that we have seen in markets has been...some market reaction to the move to adopt a more flexible exchange rate in China," he said. "But that in itself is no reason for us to be voicing concern about China and the SDR basket."