Carol- Admin
- Posts : 32886
Join date : 2010-04-07
Location : Hawaii
Carol Sun Aug 09, 2015 2:03 pm
READ THIS link about the IMF & Chinese yuan.
It's very interesting that the last line in this article states:
"The IMF reviews the SDR basket valuation method every five years. The last time the currency basket was modified was in 2000, when the euro replaced France's franc and Germany's deutschmark."
Therefore, it seems to me, if I've done my math correctly that the IMF is a little behind in their review of the SDR basket... what happened to 2005 and 2010 reviews?
Is there an "exact" date, in every five years, that they normally would conduct the review?
And if we backpeddle in that article it states:
"The implementation of any formal decision to add the yuan to the IMF Special Drawing Rights (SDR) basket should be delayed till September 2016 to avoid disrupting financial market trading on the first day of the new year, the IMF said. "
That just doesnt make sense... why wait for Septemeber 2016? Oh... I see it takes the "Reserve asset managers six months "notice" to adjust to the change?
Hello? knock knock anyone in there? No wonder nothing gets done in this world.
_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol