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China proposes adding BRICS currencies to IMF SDR

05-06-2011 10:07 BJT

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The head of China's foreign exchange authority has called on the IMF, to consider including BRICS currencies when it reviews the Special Drawing Right system by 2015.

Yi Gang, who is also a deputy governor of the central bank, says the IMF should begin investigating a shadow SDR this year. And that would accumulate enough data to consider whether currencies of major emerging economies, such as those of the BRICS countries, could be added to the SDR basket by 2015.

The SDR is the IMF's internal accounting unit and reserve asset. It comprises the U.S. dollar, British pound, euro and Japanese yen.

Editor:Xiong Qu |Source: CNTV.CN

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