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

[UPSC Civil Services Exam – 2016 Prelims]

(a) Rouble

(b) Rand

(c) Indian Rupee

(d) Renminbi

Answer: (d)        

Explanation:

  • The Special Drawing Rights (SDR) is an international reserve asset that was established by the International Monetary Fund (IMF) in 1969.
  • SDRs serve as a form of artificial currency, designed to complement global liquidity.
  • It is important to note that SDRs do not represent a specific currency or a claim on the IMF itself. Instead, they are intended to supplement the existing reserves held by member countries of the IMF.
  • For a currency to be included in the SDR basket, it must meet certain criteria. These criteria include being freely usable, widely used, and widely traded in international markets.
  • The U.S. dollar, the euro, British pound and the Japanese yen form the SDR basket.
  • Chinese renminbi (RMB) was included in the SDR basket as the fifth currency in the year 2016.

Consider the following statements:                                                                   The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

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Consider the following statements:                                                         The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

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