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SDR

Special Drawing Right. An artificial Currency unit based upon several national currencies. The Special Drawing Right serves as the official Monetary unit of several International organizations including the International Monetary Fund, and acts as a supplemental reserve for national Banking systems. For members of the IMF, the Special Drawing Rights can be used to Settle trade balances between countries and to repay the IMF. An IMF member country has to supply ITS own Currency to another member country in Exchange for SDR, unless that country already holds a certain specified amount of SDRs.

Related Terms: 24 Balance, Banking, Base, Currency, CLU, Exchange, ECI, Fund, IMF, International Monetary Fund, International, Inc., ITS, Monetary, Net, National Bank, Own, Right, Supply, SDR, Special Drawing Right, Settle, Trade, Unit
Other Related Pages: Category: Global Starting With: S
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