Inclusion of renminbi in SDR is ‘symbolic’, says Bernanke

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Bernanke offers insight into the renminbi's rise to reserve currency

The move to include renminbi in the International Monetary Fund's Special Drawing Right (SDR) basket is more of a "symbolic gesture" than an acknowledgement of the currency's strength as a reserve currency, former Federal Reserve chairman Ben Bernanke has said.

Speaking at the launch of Eswar Prasad's book Gaining Currency: The Rise of the Renminbi, Bernanke said he agrees with the book's conclusion that renminbi will become a "player" but not a "big player" in international reserves.

"The presu

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