Consider the following statements regarding SDR 1 Yuan is the last currency added in SDR 2 SDR is ma...........

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Consider the following statements regarding SDR:

1. Yuan is the last currency added in SDR.

2. SDR is maintained by International Monetory Fund.

3. Euro has the highest share in SDR currency basket.

Which of the above statements are correct:

1 only.

1 and 2 only

1 and 3 only

All are correct.

Explanation:

The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. SDRs can be exchanged for freely usable currencies. The value of the SDR is based on a basket of five major currencies—the US dollar, the euro, the Chinese renminbi (RMB), the Japanese yen, and the British pound sterling. Chinese renminbi or Yuan is last country addeded in SDR. US dollar has the highest share in SDR currency basket.