The Renminbi as an IMF Reserve Currency

... notably keeping the renminbi ’s exchange rate stable. These are serious obligations. Thus, the IMF may demand that Beijing refrain from currency interventions and renounce control over the movement of capital. However, the unprecedented boom of China’s economy and the growing use of the renminbi in international settlements are not enough to include its national currency in the SDR basket. It turns out that the Chinese renminbi is behind the Canadian and Australian dollars (which are not in the IMF’s reserve currency basket) on ...