My Financial Review

Special drawing rights (Special Drawing Rights, SDR) is an international unit of account having a non-cash nature of money. SDR was created in order to stabilize the international monetary system by the IMF in 1967. Initially, the value of SDR units were determined as the value of 0.888671 g fine gold (was sometimes called "paper gold"), since 1974 is determined on the basis of a basket of currencies, consisting out of the euro, yen, pound sterling and the dollar, in proportions dependent the importance of the currency in international financial transactions. SDR units were issued three (or four ?)times. For the first time in 1970-72. In three installments, a total of 9.4 billion. The second time in the years 1979-1981 a total of 12 billion, also in three installments.  The last allocation od SDRs took place in 2009. SDR units are awarded to countries-members of IMF, in proportion to their shares transferred to the IMF.