The following is an excerpt. To view the full article please visit the link below.

China is pushing forward its currency, the RMB's inclusion into the IMF's SDR basket through step-up reforms.

"This is a clearly increasingly important topic that we know that Renminbi is becoming increasingly world-wide spread and surpasses the Yen, as a widely used currency, actually the fourth most widely used currency in the international payments. The SDR basket right now includes the U.S. dollar, Euro, and the Yen, but certainly does not include any currency from emerging economies, (but) the Renminbi is actually very close to being included, and a favorable decision is expected from the IMF. So, it is not a...

* * *
Program
The opinions expressed in this article/multimedia are those of the author(s) and do not necessarily reflect the views of CIGI or its Board of Directors.