Showing posts with label money. Show all posts
Showing posts with label money. Show all posts

Saturday, September 26, 2009

IMF voting power to be altered

Will the dollar dissappear from the world market?
-2501

Read http://www.nation.co.ke/business/news/-/1006/663824/-/ifvbs2z/-/
http://www.imf.org/external/np/exr/facts/sdr.htm

The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. Its value is based on a basket of four key international currencies, and SDRs can be exchanged for freely usable currencies. With a general SDR allocation taking effect on August 28 and a special allocation on September 9, 2009, the amount of SDRs will increase from SDR 21.4 billion to SDR 204.1 billion (currently equivalent to about $317 billion).