◂ Event Timeline

Jun 20, 2016POLICYGlobal

The renminbi in the SDR basket and its future role in the international financial system

A Bank for International Settlements speech by Peter Zöllner discusses the imminent inclusion of the renminbi in the IMF's SDR basket. It covers the SDR's history and the renminbi's progress toward reserve currency status.

WHY IT MATTERS

SDR inclusion is a structural currency development with limited near-term effect on feed commodity prices or flows.

AFFECTSChinese Yuan (CNY per USD)

SOURCE
bis.orgPeter ZöllnerJun 20, 2016

Price reaction & history

Chinese Yuan (CNY per USD)no directional readSO FAR1d -0.1%5d +0.5%20d +1.8%

After 138 past policy events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (47% higher; middle half -0.4% to +0.4%), and -0.1% over 20.

Jun 10, 2021Situation and development of China's foreign exchange market | Bank for International Settlements+0.2%
Apr 27, 2017China to push yuan internationalization, free trade: central bank official+0.1%
Jan 17, 2020Phase One, Wall Street and the renminbi | Capital Economics+0.6%
Oct 28, 2020Yuan eases after China tweaks fixing formula to rein in strength | Financial Post-0.4%
Oct 24, 2020Yuan-USD-RMB FX News and Analysis: China's Strategy for Renminbi - Bloomberg+0.1%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Chinese Yuan (CNY per USD) USDCNY · GP ▸

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