It's official! RMB to join SDR basket in October 2016

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By Paolo Danese
01 Dec 2015

In a widely anticipated move, the IMF executive board has approved the renminbi as the fifth currency in the Special Drawing Rights (SDR) basket of currencies with a weighting of 10.92%, the IMF said in a November 30 statement. The new SDR will go into effect as of October 1, 2016.

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