Special Drawing Rights

It is a security issued by the International Monetary Fund. Its ISO 4217 code is XDR, and its nickname is Paper Gold.

The large-scale withdrawal and provision of SDRs is commonly called bailout financing for foreign exchange crises. The media usually reports the size converted into US dollars to make it easy to compare with foreign exchange reserves, but in fact the accurate expression is to use the SDR (read just as the capital letters) as the unit. This is because the SDR is a composite product made up of several different currencies, so it has an exchange rate different from the dollar and fluctuates daily.

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Topics: IMF,Keynes
Category: Wiki/Economy