Studies On The Special Drawing Rights

As a result of the cooperation in international monetary system, SDRs was once forgotten. The global economic crisis pushes the IMF to make a new allocation of SDRs which leads to great discussion on SDRs. By studying SDRs, we can better understand and point out the problem of the international monetary system and then direct its improvement. Meanwhile by finding out the weak points of SDRs and giving some possible plans can be good for the advance of SDRs. So it can play a more important role of the international monetary system.This article takes the ways of synthetic study and Comparative Studies and linking theory with practice. It firstly gives a brief introduction of the history of the creation of SDRs, and then shows the real position of SDRs in the international monetary system and points out the connection between the change of SDRs'weight and the amendments of the Agreement of the international monetary fund and the basic meaning of such change of SDRs'weight. The third part of this article states the owners from IMF, participants and other holders of SDRs. Next it discusses the basic functions of SDRs and points out the weaknesses. The fifth section talks about the allocation and withdraw of SDRs and thinks there two problems of its allocation, which is not enough in total and not fair in portion. Then it states the valuation of SDRs and shows that the standers of currency basket consider about the power of country too much and ignore other factors and the period of adjusting is too long. Then it introduces the management of SDRs simply.At last, this article gives the ideas and blueprint of the improving of SDRs. About the specific ways, there are two new ideas of more quota and less SDRs in allocation and putting dynamic stander in valuation. The dynamic stander means we should take the attitude of the countries towards their responsibilities to currency into consideration. By doing this we hope that such ideas can be helpful to the improvement of SDRs and then which can be helpful to stabilize the international monetary system.