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1-800#'s and Instructions for Currency Redemption/Exchange

This is where the 800 numbers and instructions for currency redemption (US) and currency exchange (international) will be posted. This part of the page will remain until the "TETELESTAI" email has been distributed to us. Thank you.

Guest Posting Now Available

Dinar Chronicles is now allowing viewers to guest post. If you wish to speak your mind and write a post/article about the current situation relating to Iraq, the RV, the GCR and so on. You may now send in an entry.

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The subject of your email entry should be: "Entry Post | (Title of your post) | Dinar Chronicles"

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Wednesday, October 5, 2016

"SDR Basket Currency Weights" - KTFA CircuitRider2

KTFA

CircuitRider2 » October 5th, 2016


The IMF currency basket that sets the value of the Special Drawing Rights (SDR) is determined as follows:

"The 2015 Review—Currency weights

The IMF also adopted a new formula for determining currency weights in the SDR basket to address long-recognized issues with the formula that had been in place since 1978. The adopted formula assigns equal shares to the currency issuer’s exports and a composite financial indicator. \

The financial indicator comprises, in equal shares, official reserves denominated in the member’s (or monetary union’s) currency that are held by other monetary authorities that are not issuers of the relevant currency, foreign exchange turnover in the currency, and the sum of outstanding international bank liabilities and international debt securities denominated in the currency.

The weights of the five currencies in the new SDR basket based on the new formula are listed below:

U.S. dollar 41.73 percent (compared with 41.9 percent at the 2010 Review)

Euro 30.93 percent (compared with 37.4 percent at the 2010 Review)

Chinese renminbi 10.92 percent

Japanese yen 8.33 percent (compared with 9.4 percent at the 2010 Review)

Pound sterling 8.09 percent (compared with 11.3 percent at the 2010 Review)

The amounts of each currency in the revised basket, effective on October 1, 2016, were calculated in accordance with the above-listed weights on September 30, 2016. The calculation was made on the basis of the average exchange rates for these currencies over the three months ending on that date, in a manner that ensures that the value of the SDR in terms of the U.S. dollar will be the same on September 30, 2016 under the current and revised valuation baskets.

The new currency amounts will remain fixed over the next five-year SDR valuation period. Since currency amounts are fixed, the relative weight of currencies in the SDR basket can change during a valuation period, with weights rising (falling) for the currencies that appreciate (depreciate) relative to other currencies over time."

Taken from the IMF website. For your information!

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