Shinohara Says IMF Discussing Criteria for SDR Currency Basket

The International Monetary Fund is discussing the criteria for adding currencies to its Special Drawing Rights valuation basket made up of the dollar, euro, yen and pound, its number-three official said.

“We are starting to discuss how to assess SDRs, the composition of SDRs and the criteria to add a currency to SDRs if we decided to do so,” Naoyuki Shinohara, deputy managing director at the IMF, told a news conference in Tokyo today. “There is no target date and there’s no premise that we are going to add more currencies.”