If I were to peg a pseudocurrency (the following example is based on XDR - https://en.wikipedia.org/wiki/Special_drawing_rights) to a basket of currencies with the following weightings:
- U.S. dollar 41.73%
- Euro 30.93%
- Renminbi (Chinese yuan) 10.92%
- Japanese yen 8.33%
- British pound 8.09%
How would I then determine the value of the pseudocurrency based on the specific amounts of basket currency valued in USD dollars as per the current exchange rate quotes?
Here is an example of the valuation of SDR given at this site
https://www.imf.org/external/np/fin/data/rms_sdrv.aspx
The amounts of each currency in the revised basket, effective on October 1, 2016, were calculated in accordance with the above-listed weights on September 30, 2016. The calculation was made on the basis of the average exchange rates for these currencies over the three months ending on that date, in a manner that ensures that the value of the SDR in terms of the U.S. dollar will be the same on September 30, 2016 under the current and revised valuation baskets.
The way to go about doing it is given in the following example