special drawing rights
1
9.0
- noun
- Specialized
:
derechos especiales de giro
- Now even the Obama administration has endorsed the plan to use the International Monetary Fund's special drawing rights as an alternative to the dollar in international trade.
Examples
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The Syrian pound has been pegged to a basket of currencies based on the IMF's special drawing rights (SDR) since October 2007, resulting in a marked appreciation against the US dollar.
Blog text (9) -
China also wants the renminbi to be part of the International Monetary Fund's special drawing rights.
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The Syrian pound has been pegged to a basket of currencies based on the IMF's special drawing rights since October 2007.
Synonyms
1
5.8
Money that a government, bank, or company keeps for future needs
1
4.4
Money that is available to spend or invest
Money the IMF creates to help member countries keep their currencies stable without physical gold
Surface Forms
Morphology
This is a technical, institutional IMF term whose full meaning (an international reserve asset created by the IMF) is not recoverable from the plain meanings of 'special', 'drawing' and 'rights' by a B1 learner. While 'drawing' (withdrawal) and 'rights' (entitlement) may give a vague hint, the specific concept of IMF-created reserve assets is specialized knowledge, so the expression is not transparently derivable.
Etymology
Special drawing rights come from the simple image of a special 'ticket' that lets a country draw money from an international fund when it needs foreign currency. So today, special drawing rights are extra resources countries can use to get foreign money and help their economy.