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International Monetary Fund


  • Anonymous


During November 1948 four sales of currency were made by the International Monetary Fund in response to requests for United States dollars by India, Norway, Costa Rica, and Nicaragua. India purchased $8,060,000 for rupees. Exchanges of $500,000 each for Costa Rican colones and Nicaraguan cordobas were the Fund's initial transactions in those two Central American currencies. Norway sold 175,051.080 fine ounces of gold to the Fund in exchange for United States dollars at the official price of $35 per fine ounce. This gold was equivalent to $6,126,787.80, since the price paid by the Fund took into account certain expenses involved in the transaction. Thus, at the end of the month the Fund held $1,409,503,763.38 in gold.

Suggested Citation

  • Anonymous, 1949. "International Monetary Fund," International Organization, Cambridge University Press, vol. 3(2), pages 349-350, May.
  • Handle: RePEc:cup:intorg:v:3:y:1949:i:2:p:349-350_16

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