IMF promotes the yuan: the Chinese currency in the global reserve currency – TGCOM

 
 
 
 

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Video Tgcom24 – Economy

30 November 2015

In the SDR basket will weigh for 10.92%. Are already part of the unit of account of the Fund the dollar, the pound, the euro and the yen

19:38 – International Monetary Fund has promoted the yuan in the global reserve currency. The Chinese currency, thanks to the green light by the IMF executive board, thus enters the basket of currencies that determine the value of the Special Drawing Rights (SDRs). They are already part of the unit of account of the Fund the dollar, the pound, the euro and the yen. The official entry of the yuan will be in October 2016.

the yuan basket “better reflects the global economy,” said the director of the Fund, Christine Lagarde . The Chinese currency will weigh for 10.92%, against 41.73% of the dollar, the euro of 30.93%, 8.33% of the yen and the pound dell’8,09%.

The green light given by the board of the IMF is seen as a vote of confidence in the economy cines and . And China, in fact, welcomes the decision of the IMF. The Central Bank, in a statement, ensures that Beijing will accelerate the financial reform and opening up of the market.

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Christine Lagarde

 
 
 
 
 
 
 
 
 
 

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