Published on Tuesday, December 1, 2015 | Updated on Tuesday, December 1, 2015
China | SDR inclusion cannot reverse the depreciating trend of the RMB exchange rate
Summary
On November 30, the International Monetary Fund announced the long-awaited decision to include the RMB in the basket of currencies that underpins special drawing rights. The decision marks an important moment in China’s long journey to internationalize its currency. However, it remains mostly symbolic and will not reverse the RMB's depreciating trend.
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- Macroeconomic Analysis
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Authors
LX
Le Xia
BBVA Research - Chief Economist