Talk:Special Drawing Rights

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Unlike many other currencies, SDR's have been deliberately created on the basis of arguments and against other arguments. Therefor it seems to me a good idea to add the summary of the discussion(s) in the international gremia that led to SDR's.


Contents

[edit] Use of the term currency

The use of the term currency, given the common currency of the term, maybe incorrect. SDR's are specifically not a form of currency, they are a valid legal claim, or Right, that a creditor nation has upon debtor nations. The creditor nation can draw upon the valid legal claim, i.e. demand some form of liquifying the asset, or the asset maybe held in a reserve account, as a reserve asset, in the form of Special Drawing Rights upon the International Monetary Funds leger of current accounts. --nobs

From the IMF website:

"The SDR is neither a currency, nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members." Frequently asked questions What is an SDR?

Still don't understand why SDRs are in the Category:Currencies when SDRs are specifically not a currency, hence the confusion. Thx. Nobs 16:53, 6 May 2005 (UTC)

[edit] How SDR's Come Into Existence

 Please help improve this article or section by expanding it.
Further information might be found on the talk page or at requests for expansion. (January 2007)

Perhaps a subsection on how SDR's come into existence will help shed light on the Purpose of the IMF, instead of the overemphasis and incorrect notion on the IMF page about the IMF as a lending insitution. --nobs

[edit] Currency status

 Please help improve this article or section by expanding it.
Further information might be found on the talk page or at requests for expansion. (January 2007)

Could someone explain in the article why this entity has a currency code if it is not a currency? -- Beland 01:13, 25 October 2006 (UTC)

Because it is a monetary value unit. 85.180.111.207 00:48, 3 January 2007 (UTC)

[edit] Basket

How come there are only four currencies in the basket from 2001 onwards? 203.167.171.196 04:31, 20 May 2007 (UTC)

  • I think I know now. Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain started using the euro in 2002, wasting twelve perfectly good currencies. 203.167.171.196 04:36, 20 May 2007 (UTC)

[edit] Definition

I may be being a little dense, but I do not understand the definition. If an SDR is a basket, I would expect it to be defined something like:

Then you could calculate the value from the current exchange rates.

But it is quoted as a number of percentages, which doesn't make sense.

  • Percentages of what?
  • How do I calculate the absolute value of 1 SDR?
  • If it is a percentage, then if the value of one currency goes up or down, it doesn't make any difference, as the number of units of the currency which make pp % goes up to compensate.

Can somebody please explain. TiffaF 17:30, 6 August 2007 (UTC)

You are right about 1 SDR = xxx USD + yyy EUR + zzz JPY + ppp GBP. The only condition is that xxx + yyy + zzz + ppp = 1 (or 100%) —Preceding unsigned comment added by 202.177.166.59 (talk) 17:22, 24 October 2007 (UTC)

The percentages are a target value, the actual numbers are adjusted periodically. See the table, for example it is currently 0.6320 USD + 0.4100 EUR + 18.4 JPY + 0.0903 GBP (xxx+yyy+zzz+ppp = 19.5323). --Random832 (contribs) 16:55, 25 April 2008 (UTC)