IMF makes preparations to include Chinese yuan in SDR. Happening real soon.

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The International Monetary Fund is to reweight the currencies in the Special Drawing Rights ( SDR ) basket

  • Will be rebalanced on October 1
  • It will include the yuan, giving the official stamp of approval to its status as a 'Reserve Currency'
  • The exact new weightings of currencies is yet to be finalised
  • Once they are, they are fixed for 5 years


Back in November 2015 the Fund indicted weightings for the new basket at:

  • Yuan 10.92%
  • USD 41.73%
  • Euro 30.93
  • GBP 8.09%
  • Yen 8.33%

Since then the USD has been on a rip. The IMF will issue further approximations for the new weightings in the lead up to the rebalancing.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Forex
Referenced Symbols: SDR

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