Advertisements
Advertisements
Question
How is the value of SDR determined currently?.
Solution
From 1st October 2016 SDR basket consists of US dollar, Euro, the Chinese Renminbi, Japanese Yen and British Pound sterling. The value of SDR is regularly posted daily in IMF website. IMF member can exchange SDR for freely usable currencies by voluntary exchange or as per IMF instructions. Besides members can borrow from IMF at favorable rate of interest to correct imbalance in balance of payments.
APPEARS IN
RELATED QUESTIONS
What is Special Drawing Rights?
Write down the functions of IMF
Explain how far India has benefited from IMF
International Monetary Fund was an outcome of the______.
International Monetary Fund is having its headquarters in ______.
The other name for Special Drawing Rights is ______.
Write the meaning of Special Drawing Rights.
Mention any three lending programs of IMF.
Explain the objectives of IMF.
