# Special Drawing Rights (SDR's)



## Steven Lamb (Apr 18, 2009)

Remember these ?
I've just been skinning thru a Furuno manual for the Felcom 15 Inmarsat-C which I've got onboard here and saw a mention about SDR's. Surely they are still not on the go ? Perhaps so ?
Who on earth devised the name - any idea ??

I vividly remember trying to explain on several occasions to fellow crew years ago how their radio account had been put together when questioned - always in the bar !
I seem to recollect that most had heard about the imaginery 'Gold Francs' but when SDR's came in that floored them !

Did you suffer similar scrutiny ?

cheers
Rgds
Lamby(Hippy)


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## stein (Nov 4, 2006)

Takes some time explaining. Here is a short version: 

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. As of March 17, 2015, 204 billion SDRs were created and allocated to members (equivalent to about $280 billion).

And here is a longer one from the same IMF page: http://www.imf.org/external/np/exr/facts/sdr.htm


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## trotterdotpom (Apr 29, 2005)

"As of March 17, 2015, 204 billion SDRs were created."

March 17! That would have to be an Irish plot to scam the EU once again!

SDRs came in and overnight demolished the romance of the ethereal Gold Franc - a tragedy.

John T


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## Naytikos (Oct 20, 2008)

When I gave up around 81/82 Gold Francs were still the accounting currency. Something tells me 1GF equalled 18 US cents at that time, but I may well be thinking of the rate of exchange for the Quatar and Dubai Currency Board's Rial.


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