Since 1 April 2003, the reporting currency of the BIS has been the Special Drawing Right (SDR) as defined by the International Monetary Fund (IMF). At 30 September 2016, one SDR was equivalent to USD 1.399.
The SDR is the unit of account of the IMF and is also used in private contracts and international treaties and as the unit of account of other international organisations. The value of a SDR is based on a basket of major trading currencies according to Rule O-1 as adopted by the Executive Board of the IMF on 30 November 2015 and effective 1 October 2016. As currently calculated, the value of one SDR is equivalent to the sum of USD 0.583, EUR 0.387, JPY 11.9, GBP 0.08 and Chinese renminbi 1.02. The weights assigned to each currency in the SDR basket and the composition of this currency basket is subject to review every five years by the IMF to ensure that the composition is representative of the main currencies used in international transactions, and that the weights assigned to the currencies reflect their relative importance in the world's trading and financial system.