The International Monetary Fund (IMF) announced on the 14th that it would increase the weight of RMB in the special drawing right (SDR) currency basket from 10.92% to 12.28%. After adjustment, the weight of RMB is still in the third place after the US dollar and the euro. The IMF said in a statement on the same day that the IMF executive board completed the five-year fixed value review of the basket of currencies constituting the SDR on May 11, including the composition and weight of the basket of currencies and the corresponding interest rate instruments used to determine the SDR interest rate. This is the first review completed since the RMB officially joined the SDR currency basket on October 1, 2016. This review was postponed for one year due to the IMF's response to the COVID-19. The statement said that the executive directors generally recognized the progress made in China's financial market reform. According to the latest review, the Executive Board decided to keep the current SDR basket currency composition unchanged, that is, it is still composed of US dollar, euro, RMB, Japanese yen and sterling. The weight of the US dollar increased from 41.73% to 43.38%, the weight of the euro, Japanese yen and British pound decreased, the euro decreased from 30.93% to 29.31%, the Japanese yen decreased from 8.33% to 7.59%, and the British pound decreased from 8.09% to 7.44%. IMF said that the executive board has determined the latest weight according to the development of trade and financial markets from 2017 to 2021, and pointed out that so far, the COVID-19 and the development of financial technology have not had any significant impact on the weight of currency in SDR. SDR is an international reserve asset created by IMF in 1969 to make up for the shortage of members' official reserves. The last SDR review was completed in 2015. The new SDR currency basket weight officially took effect on August 1 this year. The next review will be in 2027. (Xinhua News Agency)