Spot Price of Silver in Special Drawing Rights
Silver Vigilante, Chief Editor
As reported yesterday by Liberty Blitzkrieg and republished at SGT Report, the U.S. Postal Service now offers pricing on their website not only in Federal Reserve Notes, but also in Special Drawing Rights when it comes to internationally insured parcels. Here is the text from the website:
The accepting clerk must do the following:
- Indicate on PS Form 2976-A the amount for which the parcel is insured. Write the amount in U.S. dollars in ink in the “Insured Amount (U.S.) block.”
- Convert the U.S. dollar amount to the special drawing right (SDR) value and enter it in the SDR value block. For example:
See it for yourself here.
There it is in plain sight – the U.S. Dollar/SDR exchange rate. We can deduce through this information, then, the price of silver in terms of SDR’s, which is, based on a silver price of $28.50, approx. $17.10.
More info on the exchange rate of Special Drawing Rights into other currencies can be found at the IMF’s website.