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What is a currency exchange rate?

These rates are the official rates used by the Fund to conduct operations with member countries. The rates are derived from the currency's representative exchange rate, as reported by the central bank, normally against the U.S. dollar at spot market rates and rounded to six significant digits.

How are currency exchange rates calculated?

The rates are derived from the currency's representative exchange rate, as reported by the central bank, normally against the U.S. dollar at spot market rates and rounded to six significant digits. This rate, which are not used in Fund transactions, is the reciprocal of the SDR per currency unit rate, rounded to six significant digits.

What is the average rate of exchange?

The average exchange rate for tax assessment, where the actual rate is not furnished, is calculated as the sum total of the end-of-month rates for the year divided by 12.

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