Why renminbi can be included in the SDR?
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A truck transports containers to be shipped abroad on a quay at the Port of Qingdao in Qingdao, East China′s Shandong province, Aug 8, 2016. [Photo/IC] |
The IMF decided that the RMB meets the existing criteria for SDR basket inclusion in the review in November, 2015. As the world's third-largest exporter in the past five years, China met the first inclusion criterion.
The IMF also determined, effective Oct 1, 2016, the RMB to be freely usable, thus meeting the second criterion for basket inclusion.
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