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SDR basket
April 21 , 2020
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- The SDR basket is reviewed every five years or earlier if warranted.
- India is not supporting a general allocation of new Special Drawing Rights (SDR) by the International Monetary Fund (IMF).
- The new SDR allocation was supposed to provide all 189 members with new foreign exchange reserves with no conditions.
About SDR
- The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves.
- The value of the SDR is based on a basket of five currencies—the U.S. dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound sterling.
- The SDR serves as the unit of account of the IMF and some other international organizations.
- 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.
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