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International Depository Receipt

A certificate issued by a bank representing shares of a stock the bank holds in trust but that are traded on a foreign stock exchange. The IDR is denominated in the local currency, and entitles the bearer to any dividends and other benefits associated with the shares. IDRs can be traded like any other security. Using IDRs shields the investor from foreign exchange risk and any applicable tariffs he/she would have had to pay if he/she had bought the stock outright. It also exempts the investor from any requirements the foreign exchange might have levied. It is also known as a global depository receipt (GDR). See also: American Depository Receipt.


Global depositary receipt (GDR).

To raise money in more than one market, some corporations use global depositary receipts (GDRs) to sell their stock on markets in countries other than the one where they have their headquarters.

The GDRs are issued in the currency of the country where the stock is trading. For example, a Mexican company might offer GDRs priced in pounds in London and in yen in Tokyo.

Individual investors in the countries where the GDRs are issued buy them to diversify into international markets. GDRs let you do this without having to deal with currency conversion and other complications of overseas investing.

However, since GDRs are frequently offered by newer or less-known companies, the prices are often volatile and the stocks may be thinly traded. That makes buying GDRs riskier than buying domestic stocks.

References in periodicals archive ?
President Bush said the developments in East Germany mean his meeting in Malta with Soviet President Mikhail S.
In communist East Germany, the top concern among ordinary residents was day-to-day survival in a nation of shortages.
Ikea will be making a financial contribution to UOKG's scientific research project on forced labor in the former East Germany, the company said.
The heavy-handed Stasi security police in East Germany with a myriad of informants kept close watch on the country's 17 million people, especially the many thousands who applied to leave to the West or were otherwise deemed enemies of the state.
Socialist Modern at times lacks thematic coherence because the essays cover a wide range of often unconnected subjects and do not always address explicitly what made East Germany modern.
Everything that looks like uptight and serious smells a bit like the 'Aktuelle Kamera' in East Germany and is something people in the east were glad to leave behind," says Sergej Lochthofen, editor in chief of Thueringer Allgemeine Zeitung.
Productivity in East Germany in comparison to West Germany: 71 percent of the former western sector.
German Chancellor Angela Merkel, who was reared in communist East Germany, last week compared the suppression of opposition in Iran to the oppression of the Stasi secret police in East Germany, about the most damning comparison a German can make.
The Currency of Socialism: Money and Political Culture in East Germany.
After the country was divided at the end of the Second World War, East Berlin became the capital of East Germany while the west part of the city - which the Queen's tour included - became a western enclave surrounded by the Berlin Wall.
RED PROMETHEUS: Engineering and Dictatorship in East Germany, 1745-1770 DOLORES L, AUGUSTINE
Three decades ago, East Germany was hidden from the world not only by the concrete barrier of the Berlin Wall but also by the veil of silence and secrecy it shrouded itself in.

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