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  "Special Drawing Rights" - Tues. PM KTFA Thoughts/News 5/22/18

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Ssmith
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PostSubject: "Special Drawing Rights" - Tues. PM KTFA Thoughts/News 5/22/18   Wed May 23, 2018 7:53 am

KTFA

Walkingstick » May 22nd, 2018


BR.... OPINION PIECE.. SNIPPET

Iraq Just Got Its Own Version of Donald Trump

He has been described as an impulsive, narcissistic egoist who lives in the shadow of his father. He’s also a populist, a political outsider who has hurtled to political power thanks to a surprise election win. This is not a description of U.S. President Donald Trump, but rather of cleric Muqtada Al-Sadr, whose political coalition recently won Iraq’s parliamentary election.

http://time.com/5285705/iraq-muqtada-al-sadr/

MilitiaMan » May 22nd, 2018

This is some of the CC from last night and some things collected off the net, etc.., and it may have relevance for us in the study of ours.. If not it is interesting.. imo ~ MM

"IF YOU WANT TO SEE THE COUNTRIES THAT WILL BE IN THE BASKET WITH THE IQD GO TO THE CBI WEBSITE

THE VALUE OF THESE COUNTRIES CURRENCY, CANNOT BE LOWER THAN THE AMF

THE AMF ESTABLISHES A RATE THAT CANNOT BE LOWER

ALSO THESE CURRENCIES CANNOT BE HIGHER THAN THE AAD THE ARABIC ACCOUNTING DINAR

ARE YOU PUTTING THIS TOGETHER?
PLTRCC WHAT IS THE HIGHEST IT CAN BE?

IT IS 3 UNITS OF THE IMF SDR, SO WHATEVER THE SDR RATE IS NOW, IT CANNOT EXCEED THAT AMOUNT!"~ Frank26

The Arab Accounting Dinar (AAD) is the official and reporting currency of the Arab Monetary Fund. Its exchange rates are fixed by the Arab Monetary Fund (AMF) equivalent to three units of Special Drawing Rights (SDR) as determined by the International Monetary Fund (IMF).

Tuesday, May 22, 2018

Currency Unit
Currency amount under Rule O-1
Exchange rate 1
U.S. dollar equivalent
Percent change in exchange rate against U.S. dollar from previous calculation

Chinese yuan
1.0174
6.35175
0.160176
0.354

Euro
0.38671
1.18120
0.456782
0.523

Japanese yen
11.900
110.99000
0.107217
0.324

U.K. pound
0.085946
1.34570
0.115658
0.418

U.S. dollar
0.58252
1.00000
0.582520

1.422353

U.S.$1.00 = SDR
0.703060 2
-0.265 3

SDR1 = US$
1.422350 4

Footnotes

1 The exchange rates for the Japanese yen and the Chinese renminbi are expressed in terms of currency units per U.S. dollar; other rates are expressed as U.S. dollars per currency unit. Chinese renminbi refers to the name of the currency, while Chinese yuan refers to the currency unit.

2 IMF Rule O-2(a) defines the value of the U.S. dollar in terms of the SDR as the reciprocal of the sum of the equivalents in U.S. dollars of the amounts of the currencies in the SDR basket. Under current IMF procedures, each U.S. dollar equivalent is calculated on the basis of the mid-market rates, as provided to the IMF by the Bank of England, based on spot exchange rates observed at around noon London time (see Bank of England website); the value of the U.S. dollar in terms of the SDR is rounded to six significant digits. The Federal Reserve Bank of New York and the European Central Bank serve as backup providers for these exchange rates.

For further details see Method of Collecting Exchange Rates for the Calculation of the Value of the SDR for the Purposes of Rule O-2(a).

3 Percent change from previous calculation.

4 The reciprocal of the value of the U.S dollar in terms of the SDR, rounded to six significant digits.

Related Links

Disclaimer

The International Monetary Fund makes no warranties, express or implied, regarding these tables or the performance of this site.The IMF shall not be liable for any losses or damages incurred in connection with this site.

AMF - Arab Monetary Fund (via Public) / Arab Monetary Fund provides two new loans with a total value of 37 million Arab Accounting Dinar, equivalent to 161 million US dollars to the Republic of Tunisia

AMF - Arab Monetary Fund (via Public) / Arab Monetary Fund provides two ...

"11-04-2018

On Tuesday 10th of April 2018, on the side of the joint annual meetings of the Arab Financial Institutions, in Dead Sea in the Hashemite Kingdom of Jordan, agreements were signed by which the Fund provides two loans to the Republic of Tunisia.

The first one is a compensatory loan to support the contingent balance of payments position, and the second under the facility of enabling small and medium enterprises environment, to support reform program agreed between the two parties. The total value of the two loans is about 37 million Arab Accounting Dinar, equivalent to 161 million US dollars."

MilitiaMan » May 22nd, 2018

$1 USD to 1 AAD is per above 161m USD / 37m AAD= $4.35 USA , imo ~ MM1
SDR is Equivalent to 1 USD at $1.422350 x 3 Units = $4.27, imo ~ MM

The range appears that it may be fairly tight at $4.27 - $4.35 imo. I will leave this open for interpretation.. ~ MM

Term
special drawing rights (SDRs)

Description
International reserve assets created by the International Monetary Fund and allocated to its members to supplement existing reserve assets. They represent each holder's assured and unconditional right to obtain other reserve assets, especially foreign exchange (25, para. 11.47). The SDR is the unit of account for the Fund.

The value of the SDR is determined daily by IMF on the basis of a basket of currencies with each currency assigned a weight in the determination of that value. In the derivation of the SDR value, the currencies of the basket are valued at their market exchange rates for the US dollar, and the US dollar equivalents of each of the currencies are summed to yield the rate of the SDR in terms of the US dollar. As of January 1, 2001, the SDR valuation basket weights are the sum of the values of the amount of each currency in the following amounts: US dollar, 45 per cent; euro, 29 per cent; Japanese yen, 15 per cent, and pound sterling, 11 percent (5, Introduction, sect. 1).

Source
"United Nations, European Commission, International Monetary Fund, Organisation for Economic Cooperation and Development and World Bank (United Nations and others, 2008). System of National Accounts 2008, Series F, No. 2, Rev. 5 (United Nations publication, Sales No. E.08.XVII.29). International Monetary Fund, International Financial Statistics Yearbook (annual) (Washington, D.C.)."

Samson » May 22nd, 2018

The Central Bank is obliged in an urgent letter to the company Key Card to pay the salaries of employees and retirees


2018-05-21 at 21:53 (Baghdad time)

The Central Bank of Iraq in an urgent letter wave to the International Company for smart card Key Card to pay the salaries of employees and retirees within 24 hours, stressing otherwise that "the company will be subject to penalties from the Central Bank.

A copy of the book addressed to K-Card and issued by the Central Bank of Iraq signed by Saleh Ali, Director General of the Central Bank of Iraq's Banking Supervision Department, that "a reference to the book of Rasheed Bank / Office of the Director-General No. 144 on 21/5 / 2018) Facilities Copy of your letter and number numbered (18051612 ceo) on 10/5/2018 you decide to release the salaries of employees and retirees retained their account at the Rasheed Bank during the day.

"You must take the necessary regulatory and technical measures to maintain the continuity of salary payments on time and without prejudice to the rights of citizens," he said.

"We should inform you of your actions and the reasons that led to that in 24 hours, otherwise your company will be subject to legal consequences," he said.

The Rashid Bank announced on Monday that the non-payment of salaries of retirees and employees is due to the cessation of the card system.

"The reason for the suspension of the salaries of retirees and employees to card holders is due to the disruption of the electronic system by the International Smart Card Company," he said in a brief statement to the bank obtained by Mawazine News. The bank denied in its statement that it has a hand in stopping salaries salaries of retirees and employees for any reason. LINK

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