Lagarde supports RMB inclusion in SDR basket
IMF MD endorses inclusion after staff report deems the renminbi 'freely usable'
Christine Lagarde has endorsed designating the renminbi as a special drawing rights (SDR) currency after a staff report deemed it "freely usable".
The International Monetary Fund's managing director declared her "support" for including the renminbi in the currency basket after IMF staff recommended the move.
"IMF staff assess the renminbi meets the requirements to be a 'freely usable' currency and, accordingly, the staff proposes the [IMF] executive board... include it in the SDR basket,"
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