Mundell calls for yuan's inclusion in IMF basket

BEIJING - Nobel laureate Robert Mundell on Thursday called for the Chinese currency to be included in the basket of the special drawing rights (SDR) regime of International Monetary Fund (IMF) this year.

He also said yuan should not appreciate and a steady yuan is important for continued economic growth in Asia, as the soaring US dollar continues to have an impact on the region's exports.

"The SDR basket should be reformed this year and I propose the Chinese yuan to be included in the basket," Mundell, Nobel Prize winner in economics and professor at Columbia University, said in a speech at the Chinese Academy of Governance.