Recently which one of the following currencies has been proposed to be added to the basket of IMF rs...........

Economic Affairs World Bank and IMF

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Recently, which one of the following currencies has been proposed to be added to the basket of IMF’s SDR?

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UPSC CSP Previous Year Paper (2016)

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Rouble

Rand

Indian Rupee

Renminbi

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Explanation:

The Executive Board of IMF decided to include the Chinese renminbi (RMB) in the SDR basket as a fifth currency, along with the U.S. dollar, euro, Japanese yen and pound sterling.

The decision was taken during the IMF’s five-yearly review of the basket of currencies. SDRs are artificial currency created to augment international liquidity. It is neither a currency nor a claim on IMF rather it supplements the existing reserves of member countries of IMF.