Tag: International Monetary Fund's special drawing rights (SDR)

• Tuesday, August 3rd 2021 - 08:59 UTC

  IMF okays SDRs for countries beleaguered under the covid-19 pandemic

  

  The International Monetary Funda's (IMF) Board of Directors Monday approved the disbursement of SDRs for a total amount of US $ 650,000 million as a relief measure amidst the coronavirus pandemic.

• Monday, October 3rd 2016 - 07:54 UTC

  Yuan becomes global reserve currency but China will have to relax capital controls and the exchange rate

  

  The Chinese currency Yuan entered a new phase in its journey to become more important to the world economy: starting on Saturday the Yuan is officially a member of the International Monetary Fund’s basket of global reserve currencies. Together, this group of currencies, known as Special Drawing Rights (SDR), forms a kind of pseudo-currency—used only by the IMF—to supplement countries’ official reserves.

• Monday, November 23rd 2015 - 09:39 UTC

  China's Yuan to be included in IMF's SDR basket of currencies

  

  The inclusion of the Chinese currency in the International Monetary Fund's special drawing rights (SDR) basket is long awaited, long overdue and, finally, all but a foregone conclusion.