IMF Special Drawing Rights

IMF Special Drawing Rights

IMF Special Drawing Rights overview

Special drawing rights (ISO 4217 currency code XDR, also abbreviated SDR) are supplementary foreign-exchange reserve assets defined and maintained by the International Monetary Fund (IMF). The XDR is the unit of account for the IMF, and is not a currency per se. XDRs instead represent a claim to currency held by IMF member countries for which they may be exchanged. The XDR was created in 1969 to supplement a shortfall of preferred foreign-exchange reserve assets, namely gold and the U.S. dollar.XDRs are allocated to countries by the IMF. Private parties do not hold or use them. The amount of XDRs in existence was around XDR 21.4 billion in August 2009. During the global financial crisis of 2009, an additional XDR 182.6 billion were allocated to "provide liquidity to the global economic system and supplement member countries’ official reserves". By October 2014, the amount of XDRs in existence was XDR 204 billion.The value of the XDR is based on a basket of key international currencies reviewed by IMF every five years. The weights assigned to each currency in the XDR basket are adjusted to take into account their current prominence in terms of international trade and national foreign exchange reserves. In the review conducted in November 2015, the IMF decided that the Renminbi (Chinese yuan) would be added to the basket effective October 1, 2016. From that date, the XDR basket now consists of the following five currencies: U.S. dollar 41.73%, Euro 30.93%, Renminbi (Chinese yuan) 10.92%, Japanese yen 8.33%, British pound 8.09%.

1 XDR to USD exchange rates chart

XDR to  exchange rates chart

IMF Special Drawing Rights news

India's foreign exchange reserves fall over USD 121 million: Data

India's foreign exchange reserves fall over USD 121 million: Data. India's foreign exchange (forex) reserves declined by $121.2 million during the week ended November 9, official data showed on Friday.

indicative negative
India's Forex reserves decline $121.2 mn

Read more about India's Forex reserves decline $121.2 mn on Business Standard. India's foreign exchange (forex) reserves declined by $121.2 million during the week ended November 9, official data showed on Friday.

indicative negative
Gold Revaluation, Stronger Rupee Lift India’s Forex Reserves: Analysts
Gold Revaluation, Stronger Rupee Lift India’s Forex Reserves: Analysts

Revaluation of gold reserves and a stronger rupee lifted India’s foreign exchange (forex) reserves by over $1 billion in the week ended November 2, analysts

conditional neutral
After weeks of fall, forex kitty jumps by over USD 1 bn to USD 393.13 bn - Times of India

India Business News: Mumbai, Nov 9 () After multiple weeks of decline, the country's foreign exchange reserves swelled by USD 1.054 billion to USD 393.132 billion in the w

indicative neutral
RMB exchange rate reform market-oriented - USA - Chinadaily.com.cn

RMB exchange rate formation mechanism reform is a significant part of deepening reform. At the beginning of reform and opening-up China adopted unified exchange rate system. From 1981 to 1984 China adopted dual exchange rate system of official exchange rate and foreign exchange internal settlement price, and from 1985 to 1993 China adopted dual exchange rate of official exchange rate and foreign exchange swap price. The exchange rate system by that time was in accordance with China's opening-up and the market mechanism reform process at the same time.

indicative positive
Nicaragua: From 2007 to 2018, Daniel Ortega Had the Support of the IMF and Conducted Policies Favourable to Big National and International Capital

The principal detonator of the protests that began in April 2018 in Nicaragua was the imposition by Daniel Ortega's government of neoliberal (...)

conditional positive
US-China: A Different Take
US-China: A Different Take

Yuan is likely to weaken further based on macro fundamental considerations, not manipulation.China will continue to seek alternative suppliers to Americans. It is looking for new markets. Direct investment in China will likely emphasize domestic demand rather using China as an export platform.

indicative positive
Ukraine agrees new provisional $3.9mn programme with IMF

Ukraine has agreed a 14-month Stand-By Arrangement (SBA) with access to Special Drawing Rights of SDR2.8bn (equivalent to $3.9bn) from its main ...

conditional positive

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