Trichet says currency convertibility is ticket into SDR

NANJING, China, March 31 (Reuters) – Currencies should be
fully convertible and freely floating to gain inclusion in the
basket that forms the Special Drawing Right, European Central
Bank President Jean-Claude Trichet said on Thursday at the
conclusion of a G20 forum in China.

“A number of conditions are probable necessary for the RMB
or any new currency to enter into the basket. And these
conditions, I think, would be full convertibility and
free-floating,” he told reporters. The RMB is another name for
China’s yuan currency.

Asked about Portugal’s debt woes, Trichet said he had no
comment.

(Reporting by Jason Subler; Editing by Ken Wills)

Trichet says currency convertibility is ticket into SDR