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Treasury's Brainard: As Yuan Liberalizes, May Be Included In IMF SDR Unit

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littlekracker


ok Windreader, I found one I could post for ya


Feb 10, 2011


Treasury's Brainard: As Yuan Liberalizes, May Be Included In IMF SDR Unit


WASHINGTON -(Dow Jones)- As progress is made by China in liberalizing its currency policy, the yuan could be included in the basket of currencies that compose the International Monetary Fund's lending unit, a senior U.S. Treasury official said Thursday.

The comments by Lael Brainard, undersecretary for international affairs, come as the IMF proposes relaxing how it assesses what currencies should be included in the composition of the Special Drawing Rights unit.

While France, as head of the Group of 20 nations, sees yuan inclusion partly as a way to encourage a faster appreciation of the Chinese currency, the IMF also says it could aid in stabilizing the international monetary system.

-By Ian Talley, Dow Jones Newswires, 202-862-9285; ian.talley@dowjones.com

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