IMF amends calculation of special drawing rights basket
Exchange rates for SDR will be obtained from a commercial provider by the Bank of England so the method is more “robust”
The executive board of the International Monetary Fund has approved a "technical modification" to the way in which exchange rates are collected to calculate the value of its special drawing rights (SDR) basket, the organisation announced on October 26.
Currently, the value of the SDR is calculated by converting the currencies in the basket into US dollars using exchange rates provided by the Bank of England's (BoE) foreign exchange desk. If rates cannot be obtained from the BoE, they are
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