IMF lauds renminbi SDR launch, but some see momentum stalling

pa-23952548
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

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: