IDB Unit of Account (Islamic Dinar)


A unit of account of IDB, which is equivalent to one Special Drawing Right (SDR) of the International Monetary Fund (IMF). The composition of currencies in SDR basket denominating in Islamic Dinar are USD 41.9%, EUR 37.4%, GBP 11.3% and JPY 9.4%.

The IMF declares changes in the composition of currencies in the SDR basket every five years. Latest change was declared by IMF on January 1, 2011

The IMF has announced that on January 1, 2011 changes in the method of valuation of the Special Drawing Right (SDR) will come into effect (Press Release No. 10/434).

The weights assigned to each currency in the SDR basket have been adjusted to take account of changes in the share of each currency in world exports of goods and services and international reserves.

The IMF is providing interim calculations of the currency amounts every week for the remainder of this year based on exchange rates over the preceding three months to assist users of the SDR in preparing for the changeover to the new SDR valuation.


Illustrative Calculation of Currency Amounts in the New SDR Basket
(as of December 30, 2010)

 

(1)

(2)

(3)

(4)

Currency

Initial new weight (share)

Illustrative currency amount (i)

Exchange Rate on 12/30/10

U.S. dollar equivalent

Euro

37.4

0.42300

1.3250

0.560475

Japanese yen

9.4

12.100

81.6300

0.148230

Pound sterling

11.3

0.1110

1.54350

0.171329

U.S. dollar

41.9

0.660

1.00000

0.66000

(iii) SDR1 = US$

1.54003


(i)

Illustrative currency amounts are based on average exchange rates for a period from October 30 to December 30, 2010.

(ii)

The exchange rate for the Japanese yen is expressed in terms of currency units per U.S. dollar; other rates are expressed as U.S. dollars per currency unit.

(iii

    The value in U.S. dollars of one SDR, rounded to six significant digits.