Reserve Bank of Australia Annual Report – 1996 Financial Statements Special Reserve – International Monetary Fund Special Drawing Rights

Note 4 Special Reserve – International Monetary Fund Special Drawing Rights

This liability represents International Monetary Fund Special Drawing Rights allocated to Australia and transferred to the Bank by the Commonwealth, less net charges of the International Monetary Fund payable by the Commonwealth which have been debited to this account. At 30 June 1996, the item related to 8,311,345 Special Drawing Rights (26,821,905 Special Drawing Rights at 30 June 1995) which were converted to Australian dollars at the rate of exchange current at that date.