Central Bank of Nigeria
Special Drawings Right, Domestic Finance, External Finance, Liquidity
The need to create the new international monetary asset called Special Drawing Rights (SDRs) arose largely from the widening gap between the volume of world trade and the means of financing it (that is, international monetary reserves). Special Drawing Rights are 'paper gold', transferable among the participating countries who are committed to accept them in exchange for convertible currencies.
CBN Economic and Financial Review
Central Bank of Nigeria (1970). Special Drawing Rights and their Implications for Domestic and External Finance. CBN Economic and Financial Review. 8(1), 28-31.