Namibia: IMF Determines New Sdr Currency Amounts

1 August 2022
The Namibian (Windhoek)
By Lazarus Amukeshe

THE International Monetary Fund's executive board on Friday approved new amounts for the five currencies that will determine the value of the Special Drawing Right (SDR) from today for a five-year period.

These new currency amounts will be used for the valuation of SDRs until 31 July 2027.

The fund says determining the amount of each currency in the SDR valuation basket is the final step towards implementing the results of the latest review of the method of valuation of the SDR, concluded in May this year.

"At that review, the IMF determined that the composition of the SDR basket and the weights assigned to each currency in the basket will be 43,38% for the US dollar, 29,31% for the euro, 12,28% for the Chinese renminbi, 7,59% for the Japanese yen, and 7,44% for the pound sterling."

From 1 August the value of the SDR will be the sum of the values of the following amounts of each currency - US$0,57813, euro 0,37379, Chinese yuan 1,0993, Japanese yen 13,452, and pound sterling 0,080870.

More on the new values, see the IMF website.

Email: [email protected]

Twitter: @Lasarus_A

Read the original article on Namibian.

Tagged:
Copyright © 2022 The Namibian. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.