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IMF To Boost Special Currency Use

The International Monetary Fund is planning to lay out options for boosting the use of its special currency.

The International Monetary Fund (IMF) is planning to lay out options for boosting the use of its special currency, The Wall Street Journal reports. The fund will review the currencies that may be added to the current set of currencies in its lending unit, called the Special Drawing Right (SDR).

It will also explore under what conditions the yuan or the Canadian dollar could be added to the SDR. The IMF has already increased the use of the SDR by adding another $250 billion to its lending reserves.

Click here for the story from The Wall Street Journal.

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