The IMF(International Monetary Fund) concerning SDRs

[tjfoz]

First of all . Whats an SDR? And second, does the Iraq Dinar have a good chance to be a part of this currency basket? Are we rich tmw?

“The basket composition is reviewed every five years by the Executive Board to ensure that it reflects the relative importance of currencies in the world’s trading and financial systems. In the most recent review (in November 2010), the weights of the currencies in the SDR basket were revised based on the value of the exports of goods and services and the amount of reserves denominated in the respective currencies that were held by other members of the IMF. These changes become effective on January 1, 2011. The next review will take place by 2015.”

[ThePhantomRider]

I have the same question. I have seen talk about the basket but have only seen one basket actually mentioned in the news with the 4 listed currencies.

I've not seen anywhere where there is another basket containing anyone including Iraq. I ask this with

all respect, I'd love it to RV by next week...just have not seen any other basket outside of discussion and

Hypothesis.

TPR

[Danneedsrvnow]

I have an answer for both.

Whatever the question/questions may be, will not NOT get any definite answer.

It should be clear to everyone by now, that absolutely no one has any idea about anything that's related to the dinar...other than we are all invested!

Dan

[unclegeek]

this was my big question. I'm willing to bet that s spent some time begging moon for some kind of an extension. Would love to know what the deal was.

[Pam&Brian]

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 SDRs, unless that country already holds a certain specified amount of SDRs.

Read more: http://www.investorwords.com/5779/SDR.html#ixzz19kSpOqpy