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Notes
TOPIC: Banking
January 5, 2010
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Main Article:
Special Drawing Rights
The exchange rate for the Japanese yen is expressed in terms of currency units per US dollar; other rates are expressed as US dollars per currency unit.
IMF Rule O-2(a) defines the value of the US dollar in terms of the SDR as the reciprocal of the sum of the equivalents in US dollars of the amounts of the currencies in the SDR basket, rounded to six significant digits. Each US dollar equivalent is calculated on the basis of the middle rate between the buying and selling exchange rates at noon in the London market. If the exchange rate for any currency cannot be obtained from the London Market, the rate shall be the middle rate between the buying and selling exchange rates at noon in the New York market or, if not available there, the rate shall be determined on the basis of euro reference rates published by the European Central Bank.
Percent change in value of one US dollar in terms of SDRs from previous calculation.
The reciprocal of the value of the US dollar in terms of the SDR, rounded to six significant digits.
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