*Baggage: In respect of destruction, loss of, or damage or delay to baggage, carrier’s liability is limited to 1,131 Special Drawing Rights per passenger.*
What do they mean by 1,131 special drawing right?
So my baggage was delayed and I was checking the term and condition of the airline to see if there is any compensation and I have only found the above sentence which I don’t understand.
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“Montreal Convention: Compensation for baggage
In the unfortunate event that your baggage arrives late, is damaged or is never to be seen again, you have a right to compensation under the Montreal Convention. The amount of compensation you can receive in these cases is a maximum limit of 1 131 SDRs, or Special Drawing Rights. This is an artificial currency created by the International Monetary Fund. The use of SDRs allows for conversion into local currencies, as the Convention applies worldwide. As with standard currencies, SDRs are subject to fluctuations of the financial market. For this reason, the maximum amounts for liability are reviewed every five years and since 1999, when the Montreal Convention was first drawn up, this limit has grown from 1000 SDRs to 1 131 SDRs. As of May 2019, 1 SDR equals 1.24 € and 1 131 SDRs equals approximately 1 500 €.’
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