08.06.2015 - IMF may include RMB in currency basket in November
In November 2015, the International Monetary Fund will conduct another round of screening procedures on whether to include the renminbi in the currency basket of its special drawing rights (SDR), almost five years since the last screening, the Beijing-based Economic Observer reports. On May 26, the IMF, after ending its evaluation on China's economy, said the renminbi over the past year has seen its real effective exchange rate (REER) appreciate sharply, signaling that the currency is no longer undervalued. This is the first time the IMF has not judged the renminbi to be undervalued, indicating that the currency has a good chance of being included in the SDR currency basket in November...............................................Full Article: Source
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