Meaning of the word "special drawing rights" in English
What does "special drawing rights" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
special drawing rights
US /ˌspeʃ.əl ˈdrɔː.ɪŋ ˌraɪts/
UK /ˌspeʃ.əl ˈdrɔː.ɪŋ ˌraɪts/
Noun
an international reserve asset, created by the International Monetary Fund (IMF) in 1969 to supplement its member countries' official reserves. Its value is based on a basket of five major currencies—the U.S. dollar, euro, Chinese renminbi, Japanese yen, and British pound.
Example:
•
The IMF allocated Special Drawing Rights to member countries to boost global liquidity.
•
The value of Special Drawing Rights is determined by a basket of major currencies.
Synonym: