USA: IMF lifts weighting of RMB, dollar in SDR currency basket
WASHINGTON, May 15 (Xinhua) -- The International Monetary Fund announced Saturday an increase in the weighting of the Chinese renminbi and U.S. dollar in the Special Drawing Rights (SDR) currency basket after completing a quinquennial review.
It marks the first SDR review since the renminbi formally became the fifth currency in the SDR basket in 2016. The review occurred about one year later than originally scheduled due to the COVID-19 pandemic.