Search results for special drawing rights
Crypto
XRP instead of dollars or gold: four-stage scenario for a global reserve asset
A cryptocurrency entrepreneur has raised again the possibility that XRP could become a global reserve asset. Versan Aljarrah, founder of Black Swan Capitalist, laid out a four-stage scenario: sovereign adoption, regulatory clarity through U.S. digital asset rules, IMF recognition and XRP’s evolution into global payments infrastructure. He also cited potential use by emerging markets and BRICS countries. The scenario remains theoretical and would require simultaneous adoption and policy changes, with no precedent for digital assets in the IMF reserve basket.
Finance
South Korea\'s forex reserves rise $1.72 billion in February on foreign exchange stabilisation bonds
South Korea’s foreign exchange reserves rose in February, ending two straight months of declines, the Bank of Korea said. Reserves stood at $427.62 billion at end-February, up $1.72 billion from a month earlier, helped by a $3 billion issue of foreign exchange stabilisation fund bonds and investment returns. The increase was smaller than the bond sale size due to exchange market volatility management and a strong dollar.
Finance
South Korea\'s foreign reserves fall for first time in 7 months to $428.1 billion at end-December
South Korea\'s foreign exchange reserves fell in late December for the first time in 7 months, after being used to manage exchange-rate volatility. The Bank of Korea said reserves stood at $428.05 billion, down $2.6 billion from the previous month. Securities such as government and corporate bonds declined, while deposits and IMF special drawing rights rose. South Korea ranked ninth globally by reserves as of end-November.