3 SDR as Unit of Account
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund

Abstract

The particular interest of the SDR and the ECU for the present study is the use that can be made of them as units of account. The SDR and the ECU are each defined in terms of a basket of certain amounts of specified currencies. Both the SDR and the ECU were created as assets to be held by monetary authorities or by other official institutions that may be prescribed in accordance with the instruments under which the SDR and the ECU have their legal existence. The two assets, however, have a value that can be translated into currency if necessary and can be used by both official and private parties as units of account.