China's central bank said Monday the Chinese currency has the fundamentals to remain stable relative to a basket of currencies after a change on Friday in the way the renminbi's value is calculated.
Christine Lagarde, managing director of the International Monetary Fund (IMF), said Friday that the IMF staff has proposed the Executive Board to include the Chinese currency, the RMB, into its special drawing right (SDR) currency basket as a fifth currency and she supports it.
The executive board of the International Monetary Fund (IMF) still plans to formally review the possibility of adding the Chinese currency renminbi (RMB) to its benchmark currency basket by the end of this year, senior IMF officials said here Tuesday.
The board of International Monetary Fund (IMF) will reexamine the international use of yuan or Renminbi (RMB), the Chinese currency, when it reviews the currencies in the basket of the Special Drawing Rights (SDRs) later this year, the organization's spokesman Gerry Rice said Thursday.
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