Annual Update on SDR Trading Operations

This paper provides an update on the status of the SDR trading market and operations.

Volume/Issue: Volume 2024 Issue 043

Publication date: September 2024

ISBN: 9798400288630

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Topics covered in this book

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Banks and Banking , Exports and Imports , Finance , Money and Monetary Policy , Public Policy - Social Services and Welfare , SDRs , Reserve assets , Liquidity management , Emerging Market and Developing Economies , Caribbean , SDR interest rate , Freely usable currencies , Loans , Trading arrangements , Balance of payments need , Concessional external borrowing , Poverty reduction strategy , Liquidity , Investment banking , Currencies , Europe , Africa , Asia and Pacific , Western Hemisphere , Middle East and Central Asia

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Summary

This paper provides an update on the status of the SDR trading market and operations. For more than three decades, SDRs have exclusively been exchanged for freely usable currencies in transactions by agreement, primarily through the Voluntary Trading Arrangements (VTAs). A small fraction of transactions by agreement—sales or acquisitions of SDRs—has been arranged directly between parties. VTAs are bilateral arrangements between the Fund and SDR department participants or prescribed holders, in which the VTA participants agree to buy and sell SDRs within certain limits. The paper covers SDR trading operations during the period September 2023 to August 2024.