Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content

  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Maybe This is What We Are Waiting For....?

KCT

By KCT,
in Iraq & Dinar Related News

 Share

Recommended Posts

KCT Newbie

KCT

Posted
Posted

http://articlesofinterest-kelley.blogspot.com/2010/12/december-30-2010-imf-sdr-rate-revision.html

Tuesday, December 28, 2010

DECEMBER 30, 2010 ~ IMF SDR RATE REVISION ~ JANUARY 1, 2011 ~ NEW RATE TAKES EFFECT AND ON JANUARY 10th NEW SDR BASKET INTEREST RATE TAKES EFFECT

Bumped ~ snip ~

The first SDR exchange rate using the new basket will be posted on January 3, 2011. and ...

The first SDR interest rate based on the new basket will be calculated and announced on January 7, 2011, and will be effective during the week of January 10–14, 2011

<A href="http://1.bp.blogspot.com/_46Hbr4qMeTM/TRa9r0OB9dI/AAAAAAAAJc0/YvXmMcgp_TE/s1600/global%2Bcurrencies%2Bglobe%2Bwith%2Bcurrency%2Baround%2Bit.jpg">global%2Bcurrencies%2Bglobe%2Bwith%2Bcurrency%2Baround%2Bit.jpg

Will Iraq make a change before January 1, 2011 or will they wait along with the rest of the world? As Phoenix always says, the situation with Iraq is a novel event ~ Link ~ Message from Phoenix ~ A novel solution to a novel situation ...

SDR Basket Rate

The amounts of each of the four currencies to be included in the new SDR valuation basket will be calculated on December 30, 2010 in accordance with the new weights, and will go into effect on January 1, 2011.

The calculation will be made on the basis of the average exchange rates for these currencies over the three months ending on that date in such a manner as to ensure that the value of the SDR will be the same on December 30, 2010 under both the revised valuation and present valuation baskets.

SDR Interest Rate

The IMF also reviewed the method for determining the SDR interest rate and decided to continue to set the weekly interest rate on the basis of a weighted average of interest rates on short-term instruments in the markets of the currencies included in the SDR valuation basket. The interest rate on the three-month Treasury bills of the United States, United Kingdom, and Japan, and the three-month Eurepo rate will continue to serve as the representative interest rates for the U.S. dollar, pound sterling, Japanese yen, and euro, respectively.

A press release providing the final currency amounts in the new SDR valuation basket to take effect on January 1, 2011 will be issued by the IMF on December 30, 2010.

The first SDR exchange rate using the new basket will be posted on January 3, 2011.

The first SDR interest rate based on the new basket will be calculated and announced on January 7, 2011, and will be effective during the week of January 10–14, 2011.

Further information on the SDR can be found on the IMF's website (http://www.imf.org/external/fin.htm).

As a service to the users of SDRs, the Fund will project the currency amounts in the revised basket beginning December 8, 2010, and update these projections every week for the remainder of the year and post them on the IMF's website (www.imf.org).

As the currency amounts will be based on a three-month average of exchange rates, these projections will tend to iterate toward the final effective amounts, thereby keeping users informed of the likely final currency amounts in the new basket that takes effect on January 1, 2011

http://www.imf.org/external/np/sec/pr/2010/pr10434.htm

Iraq's 2011 Budget Holds the Key ... Still Waiting ... Posted by Kel at 12/28/2010 08:34:00 PM icon18_edit_allbkg.gif Labels: IMF SDRs

  • Upvote 7
  • Downvote 1
Link to comment
Share on other sites
awish30 Newbie

awish30

Posted
Posted

http://articlesofinterest-kelley.blogspot.com/2010/12/december-30-2010-imf-sdr-rate-revision.html

Tuesday, December 28, 2010

DECEMBER 30, 2010 ~ IMF SDR RATE REVISION ~ JANUARY 1, 2011 ~ NEW RATE TAKES EFFECT AND ON JANUARY 10th NEW SDR BASKET INTEREST RATE TAKES EFFECT

Bumped ~ snip ~

The first SDR exchange rate using the new basket will be posted on January 3, 2011. and ...

The first SDR interest rate based on the new basket will be calculated and announced on January 7, 2011, and will be effective during the week of January 10–14, 2011

<A href="http://1.bp.blogspot.com/_46Hbr4qMeTM/TRa9r0OB9dI/AAAAAAAAJc0/YvXmMcgp_TE/s1600/global%2Bcurrencies%2Bglobe%2Bwith%2Bcurrency%2Baround%2Bit.jpg">global%2Bcurrencies%2Bglobe%2Bwith%2Bcurrency%2Baround%2Bit.jpg

Will Iraq make a change before January 1, 2011 or will they wait along with the rest of the world? As Phoenix always says, the situation with Iraq is a novel event ~ Link ~ Message from Phoenix ~ A novel solution to a novel situation ...

SDR Basket Rate

The amounts of each of the four currencies to be included in the new SDR valuation basket will be calculated on December 30, 2010 in accordance with the new weights, and will go into effect on January 1, 2011.

The calculation will be made on the basis of the average exchange rates for these currencies over the three months ending on that date in such a manner as to ensure that the value of the SDR will be the same on December 30, 2010 under both the revised valuation and present valuation baskets.

SDR Interest Rate

The IMF also reviewed the method for determining the SDR interest rate and decided to continue to set the weekly interest rate on the basis of a weighted average of interest rates on short-term instruments in the markets of the currencies included in the SDR valuation basket. The interest rate on the three-month Treasury bills of the United States, United Kingdom, and Japan, and the three-month Eurepo rate will continue to serve as the representative interest rates for the U.S. dollar, pound sterling, Japanese yen, and euro, respectively.

A press release providing the final currency amounts in the new SDR valuation basket to take effect on January 1, 2011 will be issued by the IMF on December 30, 2010.

The first SDR exchange rate using the new basket will be posted on January 3, 2011.

The first SDR interest rate based on the new basket will be calculated and announced on January 7, 2011, and will be effective during the week of January 10–14, 2011.

Further information on the SDR can be found on the IMF's website (http://www.imf.org/external/fin.htm).

As a service to the users of SDRs, the Fund will project the currency amounts in the revised basket beginning December 8, 2010, and update these projections every week for the remainder of the year and post them on the IMF's website (www.imf.org).

As the currency amounts will be based on a three-month average of exchange rates, these projections will tend to iterate toward the final effective amounts, thereby keeping users informed of the likely final currency amounts in the new basket that takes effect on January 1, 2011

http://www.imf.org/external/np/sec/pr/2010/pr10434.htm

Iraq's 2011 Budget Holds the Key ... Still Waiting ... Posted by Kel at 12/28/2010 08:34:00 PM icon18_edit_allbkg.gif Labels: IMF SDRs

[/quote

Great find hope this is it.

Link to comment
Share on other sites
bobby_cahill Newbie

bobby_cahill

Posted
Posted

What Does Special Drawing Rights - SDR Mean?

An international type of monetary reserve currency, created by the International Monetary Fund (IMF) in 1969, which operates as a supplement to the existing reserves of member countries. Created in response to concerns about the limitations of gold and dollars as the sole means of settling international accounts, SDRs are designed to augment international liquidity by supplementing the standard reserve currencies.

Investopedia explains Special Drawing Rights - SDR

You can think of SDRs as an artificial currency used by the IMF and defined as a "basket of national currencies". The IMF uses SDRs for internal accounting purposes. SDRs are allocated by the IMF to its member countries and are backed by the full faith and credit of the member countries' governments.

I hope it's ok to post these definitions

If not, it can be removed

Semper Fi

  • Upvote 1
  • Downvote 1
Link to comment
Share on other sites
icfaith Newbie

icfaith

Posted
Posted

What are the 4 currencies they are referring to?

The amounts of each of the four currencies to be included in the new SDR valuation basket will be calculated on December 30, 2010 in accordance with the new weights, and will go into effect on January 1, 2011.

  • Upvote 1
Link to comment
Share on other sites
bobby_cahill Newbie

bobby_cahill

Posted
Posted

Illustrative Currency Amounts in New Special Drawing Rights (SDR) Basket

Last Updated: December 22, 2010

The IMF has announced that on January 1, 2011 changes in the relative weights of the four currencies in the Special Drawing Rights (SDR) basket will come into effect (Press Release No. 10/434). The initial weights assigned to each currency in the SDR basket have been adjusted to take account of changes in the share of each currency in world exports of goods and services and international reserves.

To assist users of the SDR in preparing for the changeover to the new SDR valuation, the IMF is providing illustrative projections of the currency amounts every week for the remainder of this year based on exchange rates over the three-month period from October 1, 2010 to December 30, 2010, where the exchange rates on the latest date available at the time of each projection are used to gap fill data for the remaining period through December 30, 2010.

I should've included this in the previous post

The 4 i listed were right below this article thru the IMF

  • Downvote 1
Link to comment
Share on other sites
sogoddess Newbie

sogoddess

Posted
Posted (edited)

"I hope it's ok to post these definitions

If not, it can be removed"

Why wouldn't it be??? Thanks!

(Will somebody please explain to me how to get the quoted text to come up in a blue box?)

Seems like the RV could affect these percentages, doesn't it? I wonder if this means the rate is already known to the IMF.

Edited by sogoddess
Link to comment
Share on other sites
eyesofahkingtoldyouso Newbie

eyesofahkingtoldyouso

Posted
Posted

Not to be the bearer of bad news but this "basket" being revaluated could have less than desired effects on our own dollar. Has anyone considered that US has invested so much in Iraq because it knows that its own dollar is becoming less valuable. What better way to bounce back after giving trillions away in bailouts.

Any thoughts?

  • Upvote 2
Link to comment
Share on other sites
beaver Newbie

beaver

Posted
Posted (edited)

What are the 4 currencies they are referring to?

The amounts of each of the four currencies to be included in the new SDR valuation basket will be calculated on December 30, 2010 in accordance with the new weights, and will go into effect on January 1, 2011.

It is the U.S. dollar 41.9 percent (compared with 44 percent at the 2005 review)

Euro 37.4 percent (compared with 34 percent at the 2005 review)

Pound sterling 11.3 percent (compared with 11 percent at the 2005 review)

Japanese yen 9.4 percent (compared with 11 percent at the 2005 review)

I am not seeing Iraq in this article anywhere...

Edited by beaver
  • Upvote 2
Link to comment
Share on other sites
WhiteKnight Newbie

WhiteKnight

Posted
Posted

"I hope it's ok to post these definitions

If not, it can be removed"

Why wouldn't it be??? Thanks!

(Will somebody please explain to me how to get the quoted text to come up in a blue box?)

Seems like the RV could affect these percentages, doesn't it? I wonder if this means the rate is already known to the IMF.

Bottom right where it say's quote...click it..........

Link to comment
Share on other sites
Guest
This topic is now closed to further replies.
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.


  • Testing the Rocker Badge!

    Take This Quiz

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept