Wednesday, June 28, 2017
News

China says SDR measure to reduce valuation changes in FX reserves

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

BEIJING | Thursday, Apr 7 2016 IST
 
China's central bank said today its move to use the International Monetary Fund's Special Drawing Rights (SDR) to measure its foreign exchange reserves would help limit valuation changes caused by currency volatility."Having the SDR as a reporting currency for foreign exchange reserves data would help reduce valuation changes caused by frequent and volatile fluctuations of major currencies, hence provide a more objective measurement of the overall value of the reserve," the central bank said in a statement."This would also help enhance the role of the SDR as a unit of account."The PBOC published forex reserves measured by the SDR for the first time. The reserves were at to $3.21 trillion at the end of March, equivalent to 2.28 trillion SDR.REUTERS CJ NS1622

-- (Reuters) -- C-1-1-DL0400-672186.Xml

Watch News Videos

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
TRENDING TOPICS
 
 
 
CITY NEWS
MORE CITIES
 
MORE ASIA NEWS
Panamagate probe team summons Sharif's d...
Sri Lanka seeks assistance for elephant ...
JGBs mostly firm after strong demand at ...
ICC T20 Rankings: Kohli stands firm at t...
Japanese chess prodigy, 14, breaks 30-ye...
Death toll in Pakistani oil tanker fire ...
More...
 
INDIA WORLD ASIA
Kodiyeri kickstarts cleaning campaign...
Natco Pharma receives final approval fro...
Zydus Cadila receives final approval for...
Sun Pharma, NIV ink pact to fight Zika, ...
Shantaram Naik inaugurates upgraded plat...
IGP Kashmir reviews security arrangemen...
More...    
 
 Top Stories
Parivartan Yatra reached Shahpur... 
PNB distributes loans to the tune o... 
2 Kangra youth arrested for attemp... 
Donald trump to sip Kangra Tea afte... 
Carry forward thoughts of Swami Ram... 
5,000 saplings to be planted during... 
MPCC chief demands complete loan wa... 
Smriti Irani to inaugurate 65th Nat...