• Embed Doc
  • Readcast
  • Collections
  • CommentGo Back
Download
 
qwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdf ghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdf ghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiop
 
 
SpecialDrawingRights
 
Sachin Sainiasksachinsaini@gmail.com
 
Special Drawing Rights
Special Drawing Rights (SDRs) are potential claims on the freely usablecurrencies of International Monetary Fund members. SDRs have the ISO 4217currency code XDR.
Definition
SDRs are defined in terms of a basket of major currencies used in internationaltrade and finance. At present, the currencies in the basket are, by weight, theUnited States dollar, the euro, the Japanese yen, and the pound sterling. Beforethe introduction of the euro in 1999, the Deutsche Mark and the French francwere included in the basket. The amounts of each currency making up one SDRare chosen in accordance with the relative importance of the currency ininternational trade and finance. The determination of the currencies in the SDRbasket and their amounts is made by the IMF Executive Board every five years.The exact amounts of each currency in the basket, and their approximate relativecontributions to the value of an SDR, in the past were and currently are
Composition of basket (value of 1 XDR)PeriodUSD DEM FRF JPY GBP1981
 –
1985
0.540 (42%) 0.460 (19%) 0.740 (13%) 34.0 (13%) 0.0710 (13%)
1986
 –
1990
0.452 (42%) 0.527 (19%) 1.020 (12%) 33.4 (15%) 0.0893 (12%)
1991
 –
1995
0.572 (40%) 0.453 (21%) 0.800 (11%) 31.8 (17%) 0.0812 (11%)
1996
 –
1998
0.582 (39%) 0.446 (21%) 0.813 (11%) 27.2 (18%) 0.1050 (11%)
PeriodUSD EUR JPY GBP1999
 –
2000
0.5820 (39%) 0.3519 (32%) 27.2 (18%) 0.1050 (11%)
2001
 –
2005
0.5770 (45%) 0.4260 (29%) 21.0 (15%) 0.0984 (11%)
2006
 –
2010
0.6320 (44%) 0.4100 (34%) 18.4 (11%) 0.0903 (11%)
Purpose
SDRs are used as a unit of account by the IMF and several other internationalorganizations. A few countries peg their currencies against SDRs, and it is alsoused to denominate some private international financial instruments. Forexample, the Warsaw convention, which regulates liability for international
of 00

Leave a Comment

You must be to leave a comment.
Submit
Characters: ...
You must be to leave a comment.
Submit
Characters: ...