Tag: special drawing rights

The IMF could announce this week whether it wants to add renminbi to the special drawing rights basket of currencies. Some banks are betting that China has done enough.

China’s central bank has not given any indication it will widen the renminbi trading band, as the cabinet instructed last week, which has disappointed market participants.

China’s plan to increase the trading band in the renminbi bring more volatility to trading the currency, but also more opportunities to gain better prices.