Special Drawing Rights

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Special Drawing Rights (SDR)

A form of international reserve assets, created by the IMF in 1967, whose value is based on a portfolio of widely used currencies.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Egyptian foreign reserves are composed of convertible foreign currencies (the main bulk of the reserves) divided into securities and currency deposits at different banks, gold deposits, IMF reserve position, financial derivatives and 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).
There will also be a new credit package worth $250 billion to improve trade flows and $250 billion in special drawing rights for countries.
Reserves also included QR1.93 billion in special drawing rights (SDR) deposits, which is held by the International Monetary Fund (IMF), bringing the total value of official total reserves to QR107.13 billion.
As of June 30, foreign currency reserves stood at USD 1.216 trillion, IMF reserves at USD 14.90 billion, IMF special drawing rights at USD 20.16 billion and gold at USD 32.35 billion.
The Special Drawing Rights fell by $25.6 million to $4.430 billion, while India's reserve position with the IMF declined by $11.5 million to $1.995 billion, the RBI said.
The international reserves include gold assets, special drawing rights, portfolio of foreign currencies.
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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