Sarkozy Told Obama China’s Yuan Should Be in SDR Basket
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French President Nicolas Sarkozy told President Barack Obama that the yuan should be included in the International Monetary Fund’s Special Drawing Rights system, a French presidential official said.
Moving toward including the yuan in the SDR basket has been a goal of Sarkozy’s this year as France seeks to shape the international financial system during its one-year leadership of the Group of 20 major world economies. Including the yuan in the SDR, a unit of account derived from the value of the dollar, yen, pound and euro, would further integrate the Chinese currency into world markets.