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Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
An oren used conversion factor (P[M.sub.10]/TSPs) is 0.86 (Gehrig and Hofer 2000), which seems to be quite constant even during 1991-2000 in East Germany (Heinrich J, personal communication).
(In East Germany as a whole, between 1946 and 1989, at least 1,065 people lost their lives trying to escape.
Ultimately, the author suggests that a "new history" will have to be written by the united Germany, overcoming the "lingering power of East Germany's self-staging as an antifascist state" (p.
18 October, East Germany: Hard-line East German leader Erich Honecker ousted by Communist Party after reportedly ordering security forces to fire on demonstrators.
2) the liberalization of East Germany's trade when joining the trade area of West Germany and, hence, of the European Economic Community;
The questions are: Why did East Germany do so badly despite massive resources, and what is the broader relevance of the East German transformation?
In his preface, Charles Maier states that he intends to write a synthetic history of the collapse of East Germany rather than advance any particular approach.
And he set out on a journey back to East Germany in hopes of answering it.
German novelist, essayist, and screenwriter whose work reflects her experiences in Germany during World War II under the Nazi regime and her postwar life in communist East Germany.
When the communists fell in East Germany many people believed that joining with West Germany would lead to a bright new future.
All this changed rapidly with the opening of East Germany. Banks were more or less swept away by the undiscriminating investment craze and the anti-development restrictions in West Germany were either ignored or non-existent in East Germany.