The first SDR exchange rate using the new basket will be posted on January 3, 2011. and ...
The first SDR interest rate based on the new basket will be calculated and announced on January 7, 2011, and will be effective during the week of January 10–14, 2011
Will Iraq make a change before January 1, 2011 or will they wait along with the rest of the world? As Phoenix always says, the situation with Iraq is a novel event ~ Link ~ Message from Phoenix ~ A novel solution to a novel situation ...
SDR Basket Rate
The amounts of each of the four currencies to be included in the new SDR valuation basket will be calculated on December 30, 2010 in accordance with the new weights, and will go into effect on January 1, 2011.
The calculation will be made on the basis of the average exchange rates for these currencies over the three months ending on that date in such a manner as to ensure that the value of the SDR will be the same on December 30, 2010 under both the revised valuation and present valuation baskets.
SDR Interest Rate
The IMF also reviewed the method for determining the SDR interest rate and decided to continue to set the weekly interest rate on the basis of a weighted average of interest rates on short-term instruments in the markets of the currencies included in the SDR valuation basket. The interest rate on the three-month Treasury bills of the United States, United Kingdom, and Japan, and the three-month Eurepo rate will continue to serve as the representative interest rates for the U.S. dollar, pound sterling, Japanese yen, and euro, respectively.
A press release providing the final currency amounts in the new SDR valuation basket to take effect on January 1, 2011 will be issued by the IMF on December 30, 2010.
The first SDR exchange rate using the new basket will be posted on January 3, 2011.
The first SDR interest rate based on the new basket will be calculated and announced on January 7, 2011, and will be effective during the week of January 10–14, 2011.
Further information on the SDR can be found on the IMF's website (http://www.imf.org/external/fin.htm).
As a service to the users of SDRs, the Fund will project the currency amounts in the revised basket beginning December 8, 2010, and update these projections every week for the remainder of the year and post them on the IMF's website (www.imf.org).
As the currency amounts will be based on a three-month average of exchange rates, these projections will tend to iterate toward the final effective amounts, thereby keeping users informed of the likely final currency amounts in the new basket that takes effect on January 1, 2011
http://www.imf.org/external/np/sec/pr/2010/pr10434.htm
Iraq's 2011 Budget Holds the Key ... Still Waiting ...
more articles ~
Joseph Stiglitz : ‘IMF Rerserve Currency can be Phased in within a Year and yuan phased in a "while"
Special allocations of SDRs. August 28th and Sept. 9th
IMF'S 2ND SDR ALLOCATION UNDER 4TH AMENDMENT ~ SEPTEMBER 9, 2009
Special Alert: U.S. Currency Exchange Controls "Federal Reserve needs to cut US Dollar in half over next 14 years"
U.N. TO EMERGE AS GLOBAL IRS - UN DECLARATION MARCH. 23-24TH
