Definitions for Special Drawing Rights
special drawing rights

Princeton's WordNetRate this definition:0.0 / 0 votes

1. special drawing rights, paper goldnoun

   reserve assets in the International Monetary Fund; designed to supplement reserves of gold and convertible currencies used to maintain stability in the foreign exchange market

WikipediaRate this definition:0.0 / 0 votes

1. Special drawing rights

   Special drawing rights (SDRs, code XDR) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). SDRs are units of account for the IMF, and not a currency per se. They represent a claim to currency held by IMF member countries for which they may be exchanged. SDRs were created in 1969 to supplement a shortfall of preferred foreign exchange reserve assets, namely gold and U.S. dollars. The ISO 4217 currency code for special drawing rights is XDR and the numeric code is 960.SDRs are allocated by the IMF to countries, and cannot be held or used by private parties. The number of SDRs in existence was around XDR 21.4 billion in August 2009. During the global financial crisis of 2009, an additional XDR 182.6 billion was allocated to "provide liquidity to the global economic system and supplement member countries' official reserves". By October 2014, the number of SDRs in existence was XDR 204 billion. Due to economic stress caused by the COVID-19 pandemic some economists and several finance ministers of poorer countries have called for a new allocation of $4T to support member economies as they seek ways to recover. In March 2021 the G24 and others proposed an allocation of $500B for this purpose. In response, XDR 456.5 billion (about US$650B) was allocated on August 23, 2021.The value of a SDR is based on a basket of key international currencies reviewed by IMF every five years. The weights assigned to the currencies in the XDR basket are adjusted to take into account their current prominence in terms of international trade and national foreign exchange reserves. Currently, the XDR basket consists of the following five currencies: U.S. dollar 43.38%, euro 29.31%, renminbi (Chinese yuan) 12.28%, Japanese yen 7.59%, British pound sterling 7.44%.

ChatGPTRate this definition:0.0 / 0 votes

1. special drawing rights

   Special Drawing Rights (SDRs) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). They represent a claim to currency held by IMF member countries for which they may be exchanged. SDRs are not a currency themselves, but a potential claim on the freely usable currencies of IMF members. They are used by the IMF to supplement a country's official reserves and their value is based on a basket of key international currencies reviewed by IMF every five years.

WikidataRate this definition:0.0 / 0 votes

1. Special drawing rights

   Special drawing rights are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund. Not a currency, SDRs instead represent a claim to currency held by IMF member countries for which they may be exchanged. As they can only be exchanged for euros, Japanese yen, pounds sterling, or US dollars, SDRs may actually represent a potential claim on IMF member countries' nongold foreign exchange reserve assets, which are usually held in those currencies. While they may appear to have a far more important part to play, or, perhaps, an important future role, being the unit of account for the IMF has long been the main function of the SDR. Created in 1969 to supplement a shortfall of preferred foreign exchange reserve assets, namely gold and the US dollar, the value of an SDR is defined by a weighted currency basket of four major currencies: the US dollar, the euro, the British pound, and the Japanese yen. SDRs are denoted with the ISO 4217 currency code XDR. SDRs are allocated to countries by the IMF. Private parties do not hold or use them. As of March 2011, the amount of SDRs in existence is around XDR 238.3 billion, but this figure is expected to rise to XDR 476.8 billion by 2013.

Matched Categories

1. • Reserve Assets

How to pronounce Special Drawing Rights?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

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   Zira

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   Oliver

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   Wendy

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   South African

How to say Special Drawing Rights in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of Special Drawing Rights in Chaldean Numerology is: 1

2. Pythagorean Numerology

   The numerical value of Special Drawing Rights in Pythagorean Numerology is: 6

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=Special Drawing Rights
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Special_Drawing_Rights
3. ^ ChatGPT
   https://chat.openai.com
4. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=Special Drawing Rights