The SDR or Special Drawing Right, is a currency used by the International Monetary Fund (IMF) for internal accounting purposes.
The SDR is also used by some countries as a peg for their own currency, and is used as an international reserve asset.
In forwarding business is used to calculate, when one cargo is missed or damage, as amount to pay as result of their legal responsability.
Calculate it is not a easy job.
To calculate the value of the SDR in national currency (say, ABC),multiply the four exchange rates of the home country vis-à-vis the basket-currency countries (i.e., ABC/USD, ABC/EUR, ABC/JPY, and ABC/GBP) with the basket values indicated in the above table. Add these four numbers together to obtain the ABC/SDR exchange rate.
The easy way to know the current value of the SDR is clicking HERE.
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NF Spain is a freight forwarder with head office in Barcelona. We offer air and sea freight, and customs clearance services.