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        IMF to the full text of the RMB into the SDR statement

        Date:15.12.01

        The International Monetary Fund (IMF) announced that the renminbi will be incorporated into the SDR (Special Drawing Rights) currency basket, in October 1, 2016 formally entered into force, usable currency can be used freely (freely). The weight of the RMB is 10.92%, more than the yen and the pound, the Japanese yen's weight is 8.33%; the weight of the pound is 8.09%.
        IMF statement reads as follows:
        The Executive Board of the International Monetary Fund has completed the special drawing right of the board of directors to consider the implementation of the special drawing right, and to agree to the renminbi to join the special drawing rights currency basket
        The Executive Board of the International Monetary Fund (IMF) today completed the regular five-yearly review of the basket of currencies that make up the special drawing rights (SDRs). A key focus of the board review was whether the Chinese Renminbi (RMB) met the existing criteria to be included in the basket.
        The International Monetary Fund (IMF) Executive Board of directors completed a review of the composition of the five year special drawing right currency basket. One of the main focus of the Executive Board's consideration is whether the yuan is in compliance with existing standards and can be incorporated into the special drawing rights currency basket.
        The board today decided that the RMB met all existing criteria and, effective October 1, 2016 the RMB is determined to be a freely usable currency and will be included in the SDR basket as a fifth currency, along with the U.S. dollar, the euro, the Japanese yen and the British pound. launching the new SDR basket on October 1, 2016 will provide sufficient lead time for the fund, its members and other SDR users to adjust to these changes.
        The Executive Board decided that, the renminbi is in line with all the existing standards, since October 1, 2016, the RMB has been identified as a freely usable currency, and as the fifth kind of currency, and $, euro, yen and sterling, together constitute the special drawing right currency basket. To ensure that there is sufficient time to adjust to the new changes in the use of the fund, the members of the fund and other special drawing rights, the new currency basket will take effect in October 1, 2016.
        At the conclusion of the meeting, Ms. Christine Lagarde, Managing Director of the IMF, stated:
        The board after the meeting, the International Monetary Fund, Ms. Lagarde said:
        "The executive Board's decision to include the RMB in the SDR basket is an important milestone in the integration of the Chinese economy into the global financial system. It is also a recognition of the progress that the Chinese authorities have made in the past years in searching China 's monetary and financial systems.
        The executive board on the yuan to be included in the SDR basket decision is an important milepost Chinese economic integration into the global financial system. It is the Chinese authorities made in the reform of its monetary and financial system in the past years of achievement approval.
        The continuation and deepening of these efforts will bring about a more robust international monetary and financial system, which in turn will support the growth and stability of China and the global economy. "
        Continue to promote and deepen Chinese in this field will promote the establishment of a more vibrant international monetary and financial system. This will support Chinese and global economic development and stability".
        The value of the SDR will be based on a weighted average of the values of the basket of currencies comprising the U.S. dollar, euro and the Chinese renminbi, Japanese yen, and the British pound. the inclusion of the RMB will enhance the more of the SDR by diversifying the basket and making it more representative of the world 's major currencies.
        The SDR's value will be weighted basket of currencies including the US dollar, euro, yen and sterling, RMB, average value decision. The yuan in the SDR basket will make the basket diversified and more representative of the world's major currencies, which is helpful to improve the SDR as a reserve asset attraction.
        The SDR interest rate will continue to be determined as a weighted average of the interest rates on short-term financial instruments in the markets of the currencies in the SDR basket. Authorities of all currencies represented in the SDR basket, which now includes the Chinese authorities, are expected to maintain a policy framework that facilitates operations for the IMF and its membership and SDR users in their currencies. The paper presented to the board will be released soon.
        The SDR interest rate will continue to be weighted interest rate of short-term financial tools in the SDR basket currency market average value determined. All the currencies in the SDR basket of the issuing country authorities (now also including the Chinese authorities) should maintain in other use of the convenient fund organization and its member states and the special drawing rights to its currency to carry out business operations of the policy framework. The Executive Board's discussion will soon send files. (above statement)
        What are the new weights of each currency in the SDR basket?
        In the SDR basket, how much is the weight of each currency new?
        Under the formula, the reepective weights of the SDR currencies are:41.73% for the U.S.dollar. 30.93% for euro; 10.92% for the Chinese renminbi, 8.33% for the Japanese yen; and 8.09% for the pound sterling.This basket of currencies will take effect on October 12016
        In the new SDR basket

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