Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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To: Qualified Opinion who wrote (66518)	12/11/2014 1:16:01 PM
From: Chip McVickar	Read Replies (2) of 218500

bloomberg.com The IMF created the SDR in 1969 to support the Bretton Woods system of fixed exchange rates after supplies of gold and dollars proved inadequate. Owning SDRs gives countries a claim to the four currencies in the basket: the dollar, euro, yen and U.K. pound. About $300 billion in SDRs are outstanding globally, according to the IMF. They accounted for $52 billion of the $135 billion in U.S. official reserve assets as of Nov. 28, Treasury Department figures show. The yuan is still dwarfed by the dollar in terms of usage in international trade and finance. When quoting countries’ foreign reserves, the IMF lumps it into its “other currencies” category, which accounts for just 3 percent of the $6.3 trillion in allocated holdings. The dollar has a 60.7 percent share, with 24.2 percent taken up by the euro and 3.9 percent by the pound.

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