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

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 pr