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Special Drawing Rights - SDR
What does it mean?
An international reserve asset created by the International Monetary Fund (IMF)in 1970, it operates as a supplement to existing reserve assets.
The SDR is used as an international reserve asset to supplement members' existing reserves of gold, foreign exchange, and reserve positions in the IMF.
In Other Words...
You can think of SDRs as an artificial currency used by the IMF and defined as a "basket of national currencies."
The IMF uses SDRs for internal accounting purposes. SDRs are allocated by the IMF to its member countries, and are backed by the full faith and credit of the governments of the members.
Related Links
IMF.org: SDR Factsheet - Info on many commonly asked SDR questions.
IMF.org: SDR Value - The current SDR valuation.
Related Terms
Currency
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A | B |
C | D |
E | F |
G | H |
I | J |
K | L |
M | N |
O | P |
Q | R |
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W | X |
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