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UPSC Economics Business and Foreign Trade / व्यापार और विदेश व्यापार Question Bank Fiscal and Monetary Policy

  • question_answer
    Recently, which one of the following currencies has been proposed to be added to the basket of IMF's SDR? [IAS Prelims 2016]

    A) Ruble               

    B) Rand

    C) Indian Rupee 

    D) Renminbi

    Correct Answer: D

    Solution :

    The value of the SDR or XDR of IMF is based on a basket of key international currencies reviewed every five years. In the review conducted in November 2015, the IMF decided that the Renmmbi (Chinese Yuan) would be added to the basket effective October 1, 2016. From that date, the SDR or XDR basket will consist of the following five currencies: U.S. dollar 41.73%, Euro 30.93%, Chinese Yuan 10.92%, Japanese Yen 8.33%, British Pound 8.09%.


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