IMF boosts dollar and renminbi weights in new SDR valuation
Euro records largest drop, while yen and sterling decline slightly
The International Monetary Fund increased the weights of the US dollar and Chinese renminbi in the latest valuation review of the basket of currencies making up the special drawing right (SDR).
On May 14, the fund’s executive board announced the dollar’s share increased from 41.73% to 43.38%, while the renminbi increased from 10.92% to 12.8%. In contrast, the euro declined from 30.93% to 29.31%, the yen from 8.33% to 7.59%, and the pound sterling from 8.09% to 7.44%.
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