“The International Monetary Fund said the yuan trails its global counterparts in major benchmarks and that “significant work” in analyzing data is needed before deciding whether to grant the Chinese currency reserve status,” Bloomberg reports. According to the news agency: IMF staff members also opened the door to a possible delay in any approval with … Continue reading
SDR review takes place every five years Staff paper lays out initial considerations; formal Board meeting late 2015 Focus on Chinese renminbi for meeting inclusion criteria The IMF Executive Board will formally review the composition and valuation of the Special Drawing Rights (SDR) basket toward the end of the year. As part of this process, … Continue reading
The Chinese currency volatility does not mean the yuan will be hit by the depreciation trend. By Sputnik News Although the Chinese yuan has been falling against the US dollar since the beginning of this week, concerns over the currency fluctuation are grossly exaggerated according to China’s experts As the yuan continued its slide against the US dollar nearly reaching the … Continue reading