Special Drawing Right


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Special Drawing Rights

A reserve currency created by the International Monetary Fund to reduce the pressure on gold and the U.S. dollar in international transactions. It was established in the late 1960s and is mainly used in the IMF's internal accounting. A few currencies are pegged to the SDR; they derive their value from a currency basket consisting of the U.S. dollar, the Japanese yen, the British pound, and the euro.

Special Drawing Right

see INTERNATIONAL MONETARY FUND.

Special Drawing Right (SDR)

a monetary asset held by member countries of the INTERNATIONAL MONETARY FUND (IMF) as part of their INTERNATIONAL RESERVES. Unlike other reserve assets such as GOLD, SDRs have no tangible life of their own. They are ‘created’ by the IMF itself and take the form of book-keeping entries in a special account managed by the Fund. The SDR is valued in terms of a weighted basket of leading currencies: US dollar, UK sterling, Japanese yen, etc.
References in periodicals archive ?
They managed to put together a bigger package than anybody expected and very importantly the issue of Special Drawing Rights -- $250 billion," Soros said.
The value of special drawing rights (SDRs) also fell.
8 million of special drawing rights (SDR), the International Development Association - 80.
The Japanese reserves consist mainly of securities and deposits denominated in foreign currencies, gold as well as reserve positions and special drawing rights Tokyo holds at the International Monetary Fund.
Zimbabwe's finance minister Tendai Biti has said that the country intends to use a USD400m tranche of IMF support funds, in the form of Special Drawing Rights (SDRs) to help rebuild Zimbabwe's infrastructure.
14 /PRNewswire/ -- The International Monetary Fund (IMF) today approved the Jordanian Government's request to augment the amount available to it under the extended fund facility (EFF) by Special Drawing Rights (SDR) 25 million (about US$36 million).
The Special Drawing Rights and reserve position in International Monetary Fund of the country climbed up by $3 million and $1.
The international reserves include gold assets, special drawing rights, portfolio of foreign currencies.
The Japanese reserves chiefly consist of securities and deposits denominated in foreign currencies, gold as well as reserve positions and special drawing rights Tokyo holds at the International Monetary Fund.
IMF will issue a total of USD250bn in special drawing rights on August 28, which will be distributed to member countries in line with their shareholder stakes.
The reserves consist of convertible foreign currencies, gold, and International Monetary Fund (IMF) special drawing rights.
B) A member's quota in the IMF determines, in particular, the amount of its subscription, its voting weight, its access to IMF financing, and its allocation of Special Drawing Rights (SDRs).

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