Accounting and Use of SDRs
Since 2004, the BIS has published its accounts in terms of special drawing rights, or SDRs, replacing the gold franc as the bank's unit of account. As of March 2007 (end of month) the bank had total assets of $409.15 billion, given a dollar/SDR exchange rate of 1.51 for March 30, 2007. Included in that total is 150 tons of fine gold.
Read more about this topic: Bank For International Settlements
Famous quotes containing the word accounting:
“I, who am king of the matter I treat, and who owe an accounting for it to no one, do not for all that believe myself in all I write. I often hazard sallies of my mind which I mistrust.”
—Michel de Montaigne (1533–1592)