What is SDR currency?

SDR or Special Drawing Right is like an international currency for the international monetary fund such that according to a news article from Al Jazeera, Iran owns the equivalent of 2.1 billion US dollars from that fund.

But what is the nature of this international currency and what are the rules pertaining to it? It is a modern issue that few Persian outlets have worked on.

This issue has been investigated in the advanced contemporary jurisprudence lessons of Professor Sayyid Moḥammad Riḍa Mudarrisī (esteemed jurist, member of the Guardian Council).

The department of contemporary jurisprudence of the Islamic Seminaries in accordance with their responsibility, have sourced and translated reliable international resources and the exposition is has been handed over to the professor, which will be presented as needed. The translation and description of these texts will be officially published soon.

However, according to the request of the dear colleagues, the main sources that have been procured will be introduced below so that our dear researchers participating in the teacher's course and other scholars can benefit from it.

It should be noted that the introduction of  educational sources on contemporary issues is only for the purpose of accurate knowledge of these issues and does not mean confirming the analyses or recommendations of those texts.

Reading Articles regarding SDR currency (Special Withdrawal Rights):

International Liquidity and the Role of the SDR in the International Monetary System.

Authors: Clark, P. B., & Polak, J. J. (2004).

 IMF Staff Papers, 51(1), p49-71.

Since this article was published by the International Monetary Fund, in addition to the theoretical aspect, it also has a practical and operational aspects. Therefore, most of the analyses are observational and based on objective and real experiences. The authors were also senior consultants and managers of the research department of the International Monetary Fund.

Users' Guide to the SDR: A Manual of Transactions and Operations in Special Drawing Rights.

Authors: Treasurer's Department. (1995). International Monetary Fund.

This article is also compiled by the International Monetary Fund and in a simple language, in addition to describing various theoretical aspects related to SDR, it has also examined various types of contracts from a practical point of view.

Review of the Method of Valuation of the SDR. 

Authors: Tweedie, A. Hagan, S. Tiwari, Siddharth (2015).

IMF Policy Paper, 2015, (10)

This article was also published by the International Monetary Fund. A highly technical article that examines SDR estimation and valuation. This review includes the composition, size, preferred weights of the SDR currency basket and financial instruments for determining interest rates related to it. The important point about the above article is that various consultants from the financial, legal, strategic and policy departments of the International Monetary Fund have played a role in its compilation.

Download the articles from here.

Introducing the international reference book for understanding special drawing rights:

Title: Special drawing rights (SDRs): The first international money. 

Author: Wilkie, C. (2012).

Oxford University Press

This book deals with the history of SDR, talks about what it is, the philosophy of its formation and its importance. It also examines the role of SDR as a source of support and stability for the global economy in the face of the financial crisis.

In addition to academic studies at prestigious universities such as the London School of Economics (LSE) and Oxford, the author of the book has also had various executive responsibilities, including: membership in the Department of Foreign Affairs and International Trade of Canada, Canada's High Representative in the World Trade Organization and also the Business Conference and UN Development, as well as the lead negotiator of Canada's investment agreements with China, new member states of the European Union and other countries.

Link to buy the book from Amazon:

https://www.amazon.com/Special-Drawing-Rights-First-International/dp/0199606463