Euro to Chinese Yuan Renminbi: Understanding the Impact of the Renminbi’s Inclusion in the SDR Basket
The inclusion of the Chinese Yuan Renminbi (RMB) in the International Monetary Fund’s (IMF) Special Drawing Rights (SDR) basket is a significant event with implications for the global financial landscape, particularly for the exchange rate between the Euro and the Chinese Yuan. This move, effective October 1, 2016, placed the…