IMF lifts China's weighting on SDR currency basket
CGTN, 20 May 2022
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The International Monetary Fund (IMF) has raised the weighting of the Chinese yuan, in the Special Drawing Rights (SDR) currency basket. In its recent SDR review, the lender raised the yuan's weighting to 12.28 percent from 10.92 percent, while the U.S. dollar's weighting went up by 1.65 percent. The other three currencies in the basket, the euro, Japanese yen and British pound had their weightings reduced. The IMF's decision to raise the yuan's SDR weight is a milestone in the currency's internationalization, the result of China's financial opening-up.
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https://www.cgtn.com/video
The International Monetary Fund (IMF) has raised the weighting of the Chinese yuan, in the Special Drawing Rights (SDR) currency basket. In its recent SDR review, the lender raised the yuan's weighting to 12.28 percent from 10.92 percent, while the U.S. dollar's weighting went up by 1.65 percent. The other three currencies in the basket, the euro, Japanese yen and British pound had their weightings reduced. The IMF's decision to raise the yuan's SDR weight is a milestone in the currency's internationalization, the result of China's financial opening-up.
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