Click on the dropdown to select EUR in the first dropdown as the currency that you want to convert and ZAR in the second drop down as the currency you want to convert to. ![]() Simply type in the box how much you want to convert. The value of the SDR is determined daily based on market exchange rates. How to convert Euros to South African rand. The currency amounts remain fixed over the five-year SDR valuation period but the weights of currencies in the basket fluctuate with exchange rates among the basket currencies. In its reviews, the IMF considers the criteria it uses in selecting SDR basket currencies and the initial currency weights used in determining the a mounts (number of units) of each currency in the SDR basket. In October 2016, the Chinese RMB joined the SDR basket and the three-month yield for China Treasury bonds was added to the basket used to set interest rates on SDRs. If the rate is 0.86 EUR per 1 USD at the time of refund, the amount deducted from your account balance is only 51.60 EUR. ![]() In the review concluded in 2015, the IMF’s Executive Board decided that the Chinese renminbi (RMB) met the criteria for inclusion in the SDR basket. ![]() The IMF reviews the SDR basket every five years, or earlier if warranted, to ensure that it reflects the relative importance of currencies in the world’s trading and financial systems. The SDR value in terms of the US dollar is determined daily based on the spot exchange rates observed at around noon London time.
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