IMF lauds renminbi SDR launch, but some see momentum stalling

Rise of the renminbi: the currency is set to join the SDR on October 1

The renminbi officially becomes the fifth currency in the International Monetary Fund's special drawing rights (SDR) basket on October 1, but even though China passed the entrance test, some say progress towards international use of the renminbi has since stalled.

Although currencies have left the SDR basket in the past, this is the first time a currency has entered it. In a conference call with journalists today (September 21), IMF officials lauded the "important milestone" October 1 represents

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