Attached is a compilation of information on SDR's in relation to OKIE's post of 3.11.2014. A number of people asked for additional information on what he was speaking about. This may be helpful to others as well.
Have a good day,
What are SDR’s?
Special drawing rights
From Wikipedia, the free encyclopedia
Special drawing rights (SDRs) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). 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 a 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.
What did OKIE say?
OKIE OIL MAN FROM OOM CHAT 03/11/14 EVENING
WHERE DID THIS INFORMATION COME FROM?
SDRs per Currency unit and Currency units per SDR
last five days1
SDR Rates for March 12 SDR Interest Rate = 0.12% | 1 USD = SDR 0.64575
This is the rate for March 12, 2014.
WHAT ELSE CAN BE LEARNED ABOUT THE SDR’S?
Factsheet -- Special Drawing Rights (SDRs)
October 01, 2013
The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries' official reserves. Its value is based on a basket of four key international currencies, and SDRs can be exchanged for freely usable currencies. With a general SDR allocation that took effect on August 28 and a special allocation on September 9, 2009, the amount of SDRs increased from SDR 21.4 billion to around SDR 204 billion (equivalent to about $309 billion, converted using the rate of September 10, 2013).
http://www.imf.org/external/np/exr/facts/sdr.htm - 20k - HTML
Special Drawing Right (SDR) Allocations: Questions and Answers
July 17, 2009
... Questions and Answers. Special Drawing Right (SDR) Allocations. ... How to
record SDR allocations in macroeconomic statistics. Q. What is an SDR? ...
http://www.imf.org/external/np/exr/faq/sdrallocfaqs.htm - 22k - HTML
SDRs per Currency unit and Currency units per SDR -- last five days
March 12, 2014
... SDRs per Currency unit and Currency units per SDR last five days 1. Exchange
Rate Archives, Download this file. ... Currency units per SDR 3. ...
http://www.imf.org/external/np/fin/data/rms_five.aspx - 139k - HTML
As explained to me, right now it is a quasi currency, not tradable. However in the future that will change.
This post was approved with OKIE with the following comment: “POST IT---THE ONLY DIFFERENCE WAS THE 66 6/10TH CENTS I HAD READ----THNX”
So before one decides OKIE is giving out false information, perhaps someone should do as much research as he does. Here’s some documentation to back what he has stated.
If one is so inclined to subscribe to that website to do their own research, that option is available on the imf.org site.