SDR

See: special drawing rights

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SDR SDR noun [countable usually plural] ECONOMICS

special drawing right; a unit of money created by the IMF. Each member country can borrow SDRs at favourable interest rates from the IMF's reserves when they are needed for reasons related to a country's balance of payments (= payments between countries related to trade etc)

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   Special drawing rights or SDRs are a form of special currency created by the International Monetary Fund and its member countries to supplement the Fund's existing reserves of currencies, and are contributed to by member states. The value of SDRs is based on a basket of the major traded currencies - the dollar, euro and yen - and fluctuates as the currencies themselves change. They serve as the unit of account of the IMF and a number of international organizations. SDRs are not a useable currency nor are they a direct claim on the IMF. But holders of SDRs can exchange them into these currencies.

   ■ www.imf.org/external/fin.htm ■

   ► See also IMF, ODR.

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SDR UK US noun [plural] ECONOMICS, MONEY

► ABBREVIATION for Special Drawing Rights: a currency created by the International Monetary Fund used for payments between countries