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IMF assessment supports inclusion of Yuan in SDR basket

An IMF staff assessment has found that the Chinese currency, the RMB or Yuan, has been meeting the criterion of being a “freely usable” currency and has called for it to be included in the Special Drawing Rights (SDR) basket, as per the IMF chief Christine Lagarde.

Lagarde said, in a statement, that an assessment paper has been handed to the Executive Board on the quinquennial review of the SDR basket. The RMB’s qualification for being included in the currency basket has been evaluated in the paper.

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