China and France are setting up a task force on integration of the yuan into the International Monetary Fund’s special drawing rights (SDRs), The Wall Street Journal reports. The task force will discuss the conditions for and the form for the integration process.
The proposal for the launch will be submitted ahead of a summit of G20 leaders in November. The SDR is a synthetic currency consisting of four major currencies, the euro, the U.S. dollar, the pound and the yen.
Click here for the story from The Wall Street Journal.