Sentences with phrase «international reserve asset»

The SDR was created as a supplementary international reserve asset in the context of the Bretton Woods fixed exchange rate system.

In November, the International Monetary Fund (IMF) agreed to add the renminbi to its Special Drawing Rights (SDR), a type of international reserve asset.

The IMF created the SDR as an international reserve asset in 1969, but it is only used by governments and international institutions.

Second, the inclusion of the RMB in the SDR basket enhances the attractiveness of the RMB as an international reserve asset.

For this reason, Saga is backed by a variable fractional reserve that is anchored to the IMF's SDR — an international reserve asset, created by the IMF in 1969 to supplement its member countries» official reserves.

Dubbed Saga or SGA, the coin will be backed by a «variable fractional reserve» pegged to the International Monetary Fund's special drawing rights (SDR)-- an international reserve asset created in 1969 to supplement member countries» official reserves for the purpose of expanding global trade.