IMF'S NEW SDR RATES

[Uncle Barkie]

Here's the release of the IMF new SDR rates.

http://www.imf.org/external/np/sec/pr/2010/pr10516.htm

Uncle Barkie

[djuggler]

I've seen this. Anybody able to give a analysis on this?

[WISHBONE]

I've seen this. Anybody able to give a analysis on this?

Nope, wish I could help but I could not find anything new about Iraq that sounded exciting.

Anyone Else??

[jam_az]

Not sure that the SDR has anything to do with Iraq's exchange rate. Have read a little about it , but I think it is a totally different animal. Anyone else know?

[ftruck7]

Why do people get on this post and say I DONT KNOW?

[jam_az]

Why do people get on this post and say I DONT KNOW?

Do you?

[ftruck7]

Do you?

Nope

[leola]

I DON`T KNOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Danneedsrvnow]

WONK TNOD I

[Frank61]

I've seen this. Anybody able to give a analysis on this?

As far as I know it is a safety switch put in place by the IMF to protect large value changes in the 4 major currencies of the world. Is it significant to the IQD ?? I would say not at this time.

[DALLASDCC]

The SDR was created by the IMF in 1969 to support the Bretton Woods fixed exchange rate system. A country participating in this system needed official reserves—government or central bank holdings of gold and widely accepted foreign currencies—that could be used to purchase the domestic currency in foreign exchange markets, as required to maintain its exchange rate. But the international supply of two key reserve assets—gold and the U.S. dollar—proved inadequate for supporting the expansion of world trade and financial development that was taking place. Therefore, the international community decided to create a new international reserve asset under the auspices of the IMF.

However, only a few years later, the Bretton Woods system collapsed and the major currencies shifted to a floating exchange rate regime. In addition, the growth in international capital markets facilitated borrowing by creditworthy governments. Both of these developments lessened the need for SDRs.

The SDR is neither a currency, nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. Holders of SDRs can obtain these currencies in exchange for their SDRs in two ways: first, through the arrangement of voluntary exchanges between members; and second, by the IMF designating members with strong external positions to purchase SDRs from members with weak external positions. In addition to its role as a supplementary reserve asset, the SDR, serves as the unit of account of the IMF and some other international organizations.

[madi]

who for a minut there I thought I was wachen Fast Times at Ridgemont High LOL