According to the information provided by the Financial Planning and Operation Department of the International Monetary Fund (IMF), SDR is a reserve asset and accounting unit created by the IMF in 1969, also known as "paper gold". It was originally created to support the Bretton Woods system and was later called "Special Drawing Rights". Initially, each SDR unit was defined as the price of 0.88867 1 gram of pure gold, which was also the value of 1 dollar at that time.
When there is a balance of payments deficit, it is used to exchange foreign exchange from other member countries designated by the International Monetary Fund to pay the balance of payments deficit or repay IMF loans. Special drawing rights can also be used as international reserves like gold and freely convertible currencies. When SDR is used as a unified pricing unit, the conversion ratio between IMF member currencies and SDR also reflects the exchange rate of member currencies. At the same time, it can better reflect the comprehensive exchange rate of a country's currency.
SDR involves international settlement.
SDR, as the pricing unit of the International Monetary Fund, is not a real currency. It must be changed into other currencies before use, and cannot be directly used for trade or non-trade payment. However, in many fields of international settlement, SDR can be regarded as the unit of international unified settlement currency.
In other words, if the conversion ratio of RMB to SDR changes, it will affect the settlement of various international businesses related to China.
The most common is that the international roaming charges of China Mobile and China Unicom need to be settled by SDR. Both companies stipulate that for users roaming abroad, the operators in the visited region or country they choose to use will set the price according to the billing currency unit used by the operators in the visited region, convert it into SDR according to a certain exchange rate, and then convert it into RMB to charge users.
In addition, the Universal Postal Convention also stipulates that the standard currency of the Universal Postal Union is the Special Drawing Rights.
In international mail and parcel delivery, the related mail receiving and sending fees, the calculation of mail return and re-mailing fees, and the compensation for mail are all uniformly stipulated through the special drawing rights, and each member country calculates its own currency. At the same time, SDR also serves as the accounting unit for accounting settlement between postal services. At the time of payment, the SDR account amount is converted into the payment currency amount, and the payment procedures are handled.
For the SDR exchange ratio, the postal department will not change frequently, but will be fixed for a long time.
In other words, the frequency band, air interface protocol and function can be upgraded through software download and update without completely replacing the hardware. Software radio provides an effective and safe solution for building multi-mode, multi-frequency and multi-functional wireless communication equipment.
SDR can be reprogrammed or reconfigured to use different waveforms and protocols by dynamically loading new waveforms and protocols. These waveforms and protocols contain various parts, including modulation technology, security and performance characteristics, which are defined as a part of the waveform itself in software.