A type of international money created by the International Monetary Fund (IMF) and allocated to its member nations SDRs are an international reserve asset, although they are only accounting entries (not actual coin or paper, and not backed by precious metal) Subject to certain conditions of the IMF, a nation that has a balance of payments deficit can use SDRs to settle debts to another nation or to the IMF
These were created in 1969 by the International Monetary Fund as a supplemental international monetary reserve asset SDRs are available to governments through the IMF and may be used in transactions between the fund and member governments
A monetary instrument established by the International Monetary Fund to take the place of gold as a supplemental international monetary reserve asset The unit of value of an SDR reflects the daily exchange value of a basket of five major currencies
reserve assets in the International Monetary Fund; designed to supplement reserves of gold and convertible currencies used to maintain stability in the foreign exchange market