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RMB, is joining the Special Drawing Right currency basket.
2016-06-07
The International Monetary Fund (IMF) on Monday announced that the Chinese currency,
Renminbi, is eligible for joining its Special Drawing Rights (SDR) currency basket on 30th NOV, 2015.
The Executive Board’s decision to include the RMB in the SDR basket is an important milestone in the
integration of the Chinese economy into the global financial system. It is also a recognition of progress that
the Chinese authorities have made in the past years in reforming China’s monetary and financial systems.
Excepted from BBC news.
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