IMF amends SDR calculation method

Exchange rates used to calculate SDR to be obtained from a commercial provider by the Bank of England

Bruno Sanchez-Andrade Nuño

The executive board of the International Monetary Fund has approved a "technical modification" to the way exchange rates are collected to calculate the value of its special drawing rights (SDR) basket, the fund announced on October 26.

Currently, the value of the SDR is calculated by converting the currencies which comprise the basket into US dollars using exchange rates provided by the Bank of England's foreign exchange desk. If rates cannot be obtained from the BoE, they are provided by the

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