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The International Monetary Fund sets currency rates for the SDR valuation basket
Saturday 30 July 2022 09:31 | Economic Number of readings: 55
Baghdad / NINA / - The International Monetary Fund announced the identification of new amounts for the five currencies that will determine the value of the Special Drawing Rights during the new evaluation period that extends from the beginning of August 2022 until July 31, 2027.
The Fund confirmed in a statement, that "the Executive Board decided, starting from August 2022. The value of the Special Drawing Rights shall be the sum of the values of the following amounts for each currency (
US dollar 0.57813,
euro 0.37379,
Chinese yuan 1.0993,
Japanese yen 13,452, and
sterling 0.080870), according to the Saudi News Agency "SPA".
He added, "The Council decided that The SDR basket and the weights assigned to each currency in the basket are
43.38 percent for the dollar,
29.31 percent for the euro,
12.28 percent for the Chinese renminbi,
7.59 percent for the Japanese yen, and
7.44 percent for the pound sterling.
He pointed out, "The interest rate on the Special Drawing Rights, which will be determined on August 5 and applied to the week beginning on August 8, will be the first rate that reflects the new SDR assessment basket." / End 8
The International Monetary Fund sets currency rates for the SDR valuation basket
Saturday 30 July 2022 09:31 | Economic Number of readings: 55
Baghdad / NINA / - The International Monetary Fund announced the identification of new amounts for the five currencies that will determine the value of the Special Drawing Rights during the new evaluation period that extends from the beginning of August 2022 until July 31, 2027.
The Fund confirmed in a statement, that "the Executive Board decided, starting from August 2022. The value of the Special Drawing Rights shall be the sum of the values of the following amounts for each currency (
US dollar 0.57813,
euro 0.37379,
Chinese yuan 1.0993,
Japanese yen 13,452, and
sterling 0.080870), according to the Saudi News Agency "SPA".
He added, "The Council decided that The SDR basket and the weights assigned to each currency in the basket are
43.38 percent for the dollar,
29.31 percent for the euro,
12.28 percent for the Chinese renminbi,
7.59 percent for the Japanese yen, and
7.44 percent for the pound sterling.
He pointed out, "The interest rate on the Special Drawing Rights, which will be determined on August 5 and applied to the week beginning on August 8, will be the first rate that reflects the new SDR assessment basket." / End 8
