Review of the Method of Valuation of the SDR
October 26, 2010
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Summary
These variables include exchange rates, exports of goods, services and income, and reserve holdings. Data for exports of goods and services show China has become the third largest exporter among Fund members and monetary unions including Fund members. Nonetheless, indicators such as reserves and international banking and debt securities suggest that the currencies in the current SDR basket continue to predominate in international financial transactions, and these currencies also account for the bulk of global foreign exchange turnover. At this time, the Chinese renminbi would not appear to meet the criteria for being determined by the Fund to be a freely usable currency, which is also required for inclusion in the SDR basket.
Subject: Basket of currencies, China, People's Republic of, Exchange rates, Exports, Foreign exchange reserves, SDR interest rate basket, SDR interest rates, SDR valuation, SDR valuation basket, SDR valuation method, SDRs
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