IMF reveals weights of new SDR basket
Renminbi to account for 10.92% of basket from its inclusion next year
The renminbi will account for 10.92% of the International Monetary Fund's SDR basket when it is included next year, under a new formula approved by the fund's executive board on November 30.
This will afford it the third largest weighting of the five currencies. The new basket, effective October 1, 2016, will give the US dollar a weighting of 41.73%, the euro 30.93%, the Chinese renminbi 10.92%, the Japanese yen 8.33% and British pound 8.09%.
The new formula, presented initially for
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