China hopes that the yuan will be included in the SDR basket of currencies this year

Almaty. October 12. Silkroadnews - China will continue its efforts to internationalize the renminbi, so that the International Monetary Fund (IMF), included the Chinese currency in the currency basket of Special Drawing Rights (SDRs) by the end of this year, reported Chinese media.
"Fundamentals for the long-term devaluation of the yuan do not exist. In the future, China is willing to strengthen reforms in order to further improve the RMB exchange rate flexibility, and save the exchange rate of the Chinese currency on a rational and balanced level", - assured the deputy director of the People's Bank of China Yi Gang.
As it turned out, the IMF conducts check on the composition of the currency basket of SDRs, and the yuan is the only currency that is not included in the SDR basket, but meets the criteria for exports.
Yi Gang said that China recently held a series of reforms to the mechanism of forming the intermediate exchange rate of the yuan, which are aimed at improving the critical role of the market in determining the exchange rate of the Chinese yuan.