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IMF prepares for inclusion of RMB in SDR basket

Reporter: Xu Zhen 丨 CCTV.com

07-26-2016 11:30 BJT

The International Monetary Fund has announced its decision to amend the rounding methodology for determining currency accounts in the Special Drawing Right basket.

This is part of technical preparations for the inclusion of the Chinese yuan. The amended methodology allows final currency amounts to produce currency weights, which are very close to the weights adopted by the IMF.

The amendment will make the currency amount calculations easier to replicate for SDR users and market participants.

Currency amounts are the number of units each currency in the SDR basket. They plays a central role in the daily valuation of the SDR as the SDR is the sum of these amounts valued at daily exchange rates of the currencies against the US dollar.

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