Mundell Says IMF Should Add Yuan to SDR Basket, Daily Reports
September 02, 2010, 8:07 PM EDT
Sept. 3 (Bloomberg) -- The International Monetary Fund should include the yuan next year in its Special Drawing Rights basket of currencies, the China Daily reported today, citing Nobel Prize winning economist Robert Mundell.
The basket should have five currencies, with the yuan having an equal weighting as the pound, Mundell was cited as saying. The report didn’t identify the other currencies.
September 02, 2010, 8:07 PM EDT
Sept. 3 (Bloomberg) -- The International Monetary Fund should include the yuan next year in its Special Drawing Rights basket of currencies, the China Daily reported today, citing Nobel Prize winning economist Robert Mundell.
The basket should have five currencies, with the yuan having an equal weighting as the pound, Mundell was cited as saying. The report didn’t identify the other currencies.