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RMB in the SDR: The Start of a new Era

Market Commentary

02 December 2015

The inclusion of the Chinese renminbi (RMB) in the IMF’s basket of reserve currencies, the Special Drawing Rights (SDR), marks the first time that an Emerging Markets (EM) currency has been given the go ahead to become a global reserve currency. The implications are many and far reaching - this note highlights a few.

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