WB executive praises China's forex policy

WB executive praises China's forex policy

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World Bank Group's Otaviano Canuto says it's a win-win solution for the RMB to join the SDR. He also praised the Chinese government's efforts in pushing for exchange rate liberalisation. 

Otaviano Canuto is a Brazilian economist who serves as a dirctor at the Executive Board of Directors of the World Bank Group.
He has witnessed the entire process from the yuan's application to its official inclusion in the SDR. 
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Canuto has affirmed China's effort in allowing exchange rate to reflect more of its market value.

He also said China's on the right policy track to narrow price difference seen in RMB's on-shore and off-shore markets.

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