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

OUTLOOK 2019 Iran

The Islamic Republic’s fate is wrapped up in that of Donald Trump. To throttle Iran’s economy he’ll need to stay able to project his power.

13 days conditional neutral
Jim Rickards: Gold price has been locked to SDRs and global monetary reset is under way

Since 1995, news.GoldSeek.com publishes the leading gold news commentaries, gold market updates and reports providing gold investors with the most updated gold and silver prices, news & precious metals information!

about 2 months conditional neutral
Dreaming About a World Reserve Bitcoin

The IMF's idea to create its own digital currency is merely interesting trivia at this point, not a threat to the U.S. dollar.

about 2 months conditional neutral
IMF’s Lagarde Encourages ‘Even-Handed’ Crypto Regulation

Managing director of the International Monetary Fund Christine Lagarde warned regulators against overly regulating cryptocurrency, and supported a balanced approach that leaves room for innovation.

about 2 months conditional neutral
What Could Dethrone the Dollar as Top Reserve Currency?
What Could Dethrone the Dollar as Top Reserve Currency?

What will finally pull the rug out from under the dollar’s hegemony? The euro? The Chinese yuan? Cryptocurrencies? The Greek drachma?

about 2 months conditional positive
S.Korea's foreign reserves top 400 bln USD for 1st time - Xinhua | English.news.cn

South Korea's foreign currency reserves topped 400 billion U.S. dollars for the first time in June, keeping a record-breaking trend for the fourth consecutive month, central bank data showed Wednesday.

about 2 months indicative negative
As The Currency Reset Begins – Get Gold As It Is “Where The Whole World Is Heading”

Since 1995, news.GoldSeek.com publishes the leading gold news commentaries, gold market updates and reports providing gold investors with the most updated gold and silver prices, news & precious metals information!

about 2 months indicative positive

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