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 ?
But he does not make a convincing case for the richer nations accepting his own proposal for Special Drawing Rights.
According to Yudong, the eSDR - the electronic version of the IMF's Special Drawing Rights (SDR) - would help address flaws in the current global monetary system.
The international reserves included portfolio of foreign currencies, special drawing rights and gold assets.
The commission also looked at a draft law relating to the permission to raise Tunisia's share in the IMF by 258,7 million special drawing rights, that is 599,6 million dinars, to reach 545,2 million special drawing rights.
Summary: BERLIN - Chancellor Angela Merkel has ruled out using gold and currency reserves or IMF special drawing rights, or SDRs, to boost the eurozone bailout fund for fear of violating the independence of Germany's central bank, which opposes such use of reserves.
Yemen and the World Bank (WB) signed here on Thursday a finance agreement for the public finance modernization project in Yemen at a cost of 12 million units of Special Drawing Rights (SDRs).
The Board of Governors of the Fund has ratified a general allocation of Special Drawing Rights to provide liquidity support to the global economic system by supplementing the foreign exchange reserves of member countries, including Jamaica.
China, with support from Russia, recommends the invention of a new international reserve currency based on International Monetary Fund special drawing rights (SDR).
For the Centrally Sponsored Scheme Sarva Shiksha Abhiyan (SSA), Government of India has signed a financial agreement with the World Banks International Development Association (IDA) for an amount of Special Drawing Rights (SDR) 651.
The Chinese currency has moved closer to the International Monetary Fund's Special Drawing Rights (SDR) currency basket.
3 billion since the last adjustment in June, while special drawing rights fell slightly from $1.
The reserves consist mainly of securities and deposits denominated in foreign currencies and gold, as well as reserve positions and special drawing rights Japan holds at the International Monetary Fund.

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