IMF's Executive Board has taken major decision by approving a new composition of the so-called Special Drawing Rights (SDR) basket effective from October 2016 and the next five years.

After USD, EUR, GBP and JPY, now Chinese renminbi entered into the basket of freely usable currencies. The IMF also changed the currency weights, after revising, the USD will have 41.73%, followed by EUR 30.93%, CNY 10.92%, JPY 8.33% and GBP 8.09%, notes Nordea Bank.