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 ?
As a result of the new allocations, Lebanon ranked 90th place among 186 countries and 15th among 18 countries in the Middle East and North Africa region in terms of cumulative Special Drawing Rights, roughly in line with its global ranking in terms of nominal GDP.
The SDR allocation will be made to IMF members that are participants in the Special Drawing Rights Department (currently all members) in proportion to their existing quotas in the fund, which are based broadly on their relative size in the global economy.
The SDR allocation will be made to IMF members that are participants in the Special Drawing Rights Department in proportion to their existing quotas in the fund, which are based broadly on their relative size in the global economy.
But he does not make a convincing case for the richer nations accepting his own proposal for Special Drawing Rights.
According to an official statement from the Waterway Authority, the canal's recorded revenues last year equaled 3.7 billion units of Special Drawing Rights (SDR is the forex reserve asset defined and maintained by the International Monetary Fund).
The Chinese currency has moved closer to the International Monetary Fund's Special Drawing Rights (SDR) currency basket.
Japan's foreign exchange reserves consist of securities and deposits denominated in foreign currencies plus the International Monetary Fund (IMF) reserve positions, IMF special drawing rights and gold.
Thus, today Kyrgyzstan has active loans from the German Development Bank - 4 million Euros, the Asian Development Bank - over 71.8 million of special drawing rights (SDR), the International Development Association - 80.2 million SDRs, and the International Fund for Agricultural Development - 5.9 million SDRs.
Reserves of gold remained steady at $3.3 billion since the last adjustment in June, while special drawing rights fell slightly from $1.259 billion to $1.257 billion.
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).

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