IMF officials: RMB may soon be included in the SDR basket

Abstract Reuters reported on the 26th, the informed sources said Sunday that the International Monetary Fund (IMF) officials will allow the yuan to join its special drawing rights (SDR) currency basket, which is the IMF board to make the final decision in favor of the yuan Foundation. another...
According to a Reuters report on the 26th, people familiar with the matter said on Sunday that officials of the International Monetary Fund (IMF) will allow the yuan to join its special drawing rights (SDR) currency basket, which lays the ground for the IMF board to finally make a decision in favor of the renminbi. The foundation.

According to a report by Bloomberg News on Friday, IMF representatives have told China that the yuan may soon be included in the organization's reserve currency basket. Two of them said that Chinese government officials are already preparing relevant celebration statements.

According to a Reuters report, according to the schedule, the IMF Executive Board will make a decision on the RMB to join the SDR currency basket in November, which will make the RMB as important as the US dollar, the Japanese yen, the euro and the British pound. IMF officials assessed the performance of the renminbi according to a series of key technical standards.

The three officials who understood the progress of the IMF discussions told Reuters that IMF officials reached a favorable conclusion in the inclusion of the RMB in a draft report. Because this matter is more sensitive, people familiar with the matter request anonymity.

A person familiar with the matter said: “At the technical operation level, everything is moving in a favorable direction. There is no obvious political obstacle at present. This report obviously tends to include the RMB, but the final decision is left to the board of directors.” He added that the date the officials submitted their reports to board members was originally scheduled for November, but was delayed for several weeks.

Two other people familiar with the matter said that IMF officials would recommend the renminbi to be included in the SDR basket. Another person familiar with the matter said: "There is no real discussion at the moment, and there are no obstacles. Everything seems to be moving in a favorable direction."

The SDR is a reserve asset created by the IMF in 1969 to compensate for the lack of dollars and gold in the Bretton Woods system to ensure adequate liquidity in the growing global trade and financial markets. At present, the value of SDR is determined by the four currencies of US dollar, Euro, British pound and Japanese yen, accounting for 41.9%, 37.4%, 11.3% and 9.4% respectively. This is also known as the SDR currency basket.

Interface News previously quoted the Wall Street Journal as saying that as China challenges the political and economic dominance of the United States in global affairs, the renminbi becoming an international reserve currency will enable China to exert more power in the global economy. A key step in China's global status. At the same time, joining the SDR may significantly increase the demand for the renminbi, especially for central banks [microblogging].

Bloomberg News, citing analysis by Standard Chartered PLC and Axa Investment Managers, said that if the yuan joins the IMF reserve currency basket, at least $1 trillion of global reserves will be transferred to RMB assets.

According to an analysis by the International Finance Corp. (IFC) of the World Bank [microblogging], the renminbi-denominated bonds issued by foreign companies, namely Panda Bonds, will exceed $50 billion in the next five years.

Bloomberg reports that as of September this year, the funds set up in the SDR and allocated to IMF member countries are equivalent to about $280 billion. In contrast, global reserve assets were approximately $11.3 trillion in the same period. The US SDR held as of August is reported to be approximately $50 billion.

This category is formate, which includes Calcium Formate, Sodium Formate, Potassium Formate.

1. It is extensively used in oil field industry as drilling fluid with excellent performance;

2. As the camouflage acid in the leather industry;
3. As reducing agent in print and dyeing industry;
4. As road snow-dissolved agent, early strength agent of cement paste, and in carbon black manufacture, leaf fertilizer and other industries.

Formic Acid Salt

Methanoic Acid,Formic Acid Merck,Formic Acid For Sale,Formic Acid And Sodium Formate