About the yuan into the basket SDR you have to know those things – International – People’s network stellarium

About RMB "into the basket" SDR you have to know those things – International – people.com.cn yuan will in October 1st officially joined the International Monetary Fund (IMF) special drawing rights (SDR) become a basket of currencies, the dollar euro yen and pound after the fifth "basket" currency. What is SDR? What will be the impact of RMB SDR? The following questions will be answered. Q: what is SDR? A: SDR is an international reserve asset created by IMF in 1969 to make up for the lack of official reserves of member states. Since October 1, 2016, the value of SDR by the dollar, the euro, the yuan, the yen and the pound basket decision. The SDR was created to support the Bretton Woods system of fixed exchange rates. Countries participating in the system use gold and dollars to buy their currencies in the foreign exchange market in order to maintain the stability of their currencies. However, the two main reserve assets can not meet the needs of the expansion of World Trade and financial development. As a result, the international community has decided to create a new international reserve asset, IMF, with the support of SDR, also known as "paper gold"". Q: what is the use of SDR? A: SDR is not a currency, nor is it an obligation to IMF, but a potential claim for free use of IMF member states. SDR owner can change SDR into two ways: one is the currency through voluntary exchange between members of the arrangement; two is the IMF specified external position rich members to be free to use money from the external position insufficient members to buy SDR. In addition to being a supplemental reserve asset, SDR is a unit of account for IMF and other international organizations. Q: what criteria do you need to join SDR? A: there are two main criteria for the selection of SDR currency basket: first, the size of the export trade of the currency issuing countries ranks first in the world; the two is that the currency is freely available. In accordance with the IMF agreement, if the IMF finds that the currency of a member country is in fact widely used for international transactions and is widely traded in the principal foreign exchange market, the currency is freely available. The concept of the free use of money is concerned with the actual international use and trading of the currency, which does not mean that a currency exchange rate must be freely floating or fully convertible under the capital account. IMF every 5 years on a currency basket assessment, and according to the SDR basket to adjust, adjust the content may involve currency and weight change. Evaluation by the IMF executive board meeting to discuss and vote. In the summer of 2015, the board of directors on the yuan into the basket to discuss the issue, and in August released a preliminary assessment report SDR basket, affirmed the internationalization of the RMB exchange rate reform and the progress of the market. November 30, 2015, the board of Directors voted to incorporate the RMB into SDR. Q: what is the impact of the RMB’s accession to the SDR on the existing basket of currencies? A: the IMF executive board in 2010 will be assessed in the SDR basket of dollars, euros, yen and Sterling weight were determined as 41.9%, 37.4%, 9.4% and 11)相关的主题文章: