国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Global Biz

Add yuan to IMF currency basket - Yi

(Agencies)
Updated: 2011-04-18 15:28
Large Medium Small

Washington -?China's yuan is close to being a freely usable currency, one of two key tests for it to be included in the International Monetary Fund's currency basket, the deputy governor of China's central bank said on Sunday.

The most widely used emerging market currencies should be considered for the basket, Yi Gang, deputy governor of the People's Bank of China told reporters.

He was speaking on the sidelines of a twice-yearly meeting of the International Monetary Fund where expanding the IMF's so-called Special Drawing Rights was discussed.

"The most obvious candidates are the BRICS," Yi said, referring to Brazil, Russia, India, China and South Africa.

Add yuan to IMF currency basket - Yi
Yi Gang, deputy governor of the People's Bank of China. [Photo/Xinhua]

He added that the Chinese yuan is "very close to being freely usable."

The SDR now comprises the dollar, euro, yen and sterling and is a synthetic quasi-currency that is mainly used as an accounting tool for the IMF's internal operations.

Some experts believe the SDR could increasingly play a role akin to that of a global reserve currency.

Expanding the SDR basket would help support global growth, reduce imbalances and provide a financial safety net during times of financial troubles, Yi said, adding it would also make the international monetary system more representative.

Yi emphasized that a currency that is freely usable may not necessarily be "freely convertible," pointing to currencies that joined the SDR basket in the 1960s and 1970s.

The other criteria for a currency to be included in the SDR basket is that the country must be a major exporter and China fully satisfies this requirement, Yi said.

The IMF completed its latest SDR review in November and did not open it up to any new currencies. It said the Chinese yuan was not used widely enough to be included in the SDR basket.

China has promoted the international use of the yuan in the past two years, highlighted by the rapid development of the Hong Kong offshore yuan market. Earlier this year, the Bank of China Ltd. offered yuan trading to its US customers.

Cross-border yuan transactions are growing rapidly. The BRICS' development banks agreed in principle on Thursday to establish mutual credit lines denominated in their currencies, not dollars, to strengthen business and trade ties.

Yi said China is not in a hurry to have the yuan included in the IMF basket. Chinese officials have repeatedly said Beijing will take steps to make the yuan more flexible but reforms will be carried out in a gradual manner.

The IMF is due to conduct its next review in 2015. Some analysts, such as Jim O'Neill, chairman of Goldman Sachs Asset Management, speculated that the IMF might not wait until then to change the SDR's make-up.

分享按鈕
射洪县| 大余县| 巴彦淖尔市| 蒲城县| 赞皇县| 赤峰市| 镶黄旗| 冀州市| 定兴县| 哈巴河县| 盱眙县| 巴彦淖尔市| 吉林省| 平乡县| 日土县| 陆川县| 建宁县| 恭城| 拉萨市| 湘阴县| 宁武县| 波密县| 红安县| 白山市| 大荔县| 东平县| 综艺| 南溪县| 通州市| 玛曲县| 樟树市| 武威市| 泗阳县| 盐源县| 木兰县| 井研县| 元氏县| 新乡市| 乌兰县| 建昌县| 津市市|