Recently, which one of the following currencies has been proposed to be added to the basket of IMF’s SDR?
Explanation:
Renminbi was decided to be included recently by IMF in SDR.In theory, SDR inclusion will support renminbi in the medium term. It would help promote use and acceptance of renminbi globally as China is playing a bigger role in the world economy.
Why the question Came:
The Chinese renminbi will be included in the Special Drawing Rights basket of currencies of the International Monetary Fund from Oct. 1. Chinese economy has been much analysed right from The Hindu to the Economic Survey. Focus on China is due to many aspects – Go through the notes and related boxes from Economic Survey lectures.
Sources:
The Hindu
https://www.imf.org/external/np/exr/facts/sdrcb.htm
- Rouble
- Rand
- Indian Rupee
- Renminbi
Explanation:
Renminbi was decided to be included recently by IMF in SDR.In theory, SDR inclusion will support renminbi in the medium term. It would help promote use and acceptance of renminbi globally as China is playing a bigger role in the world economy.
Why the question Came:
The Chinese renminbi will be included in the Special Drawing Rights basket of currencies of the International Monetary Fund from Oct. 1. Chinese economy has been much analysed right from The Hindu to the Economic Survey. Focus on China is due to many aspects – Go through the notes and related boxes from Economic Survey lectures.
Sources:
The Hindu
https://www.imf.org/external/np/exr/facts/sdrcb.htm
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