EVENT INFORMATION

1
October
2016

Renminbi enters the IMF’s SDR basket

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📅 1 October 2016 📍 China, Global

The renminbi became the fifth currency in the IMF’s reserve asset basket, alongside the US dollar, euro, yen, and pound. The change symbolized China’s growing role in the monetary system but did not make the renminbi freely convertible or displace the dollar’s dominance.

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People in this event

IMF officials

Chinese financial authorities

Organizations in this Event

International Monetary Fund