IMF Executive Board includes yuan into SDR basket of currencies
Q. Executive Board of IMF on Monday decided to include which currency into basket of currencies that make up its SDR or Special Drawing Right?- Published on 01 Dec 15
a. Australian dollar
b. Chinese yuan
c. Swiss francs
d. None of the above
ANSWER: Chinese yuan
Executive Board of IMF has decided to include the renminbi (yuan), into its basket of currencies that make up the IMF’s Special Drawing Right (SDR). The decision was taken during the IMF’s five-yearly review of the basket of currencies. SDR was created by IMF in the late 1960s and allows members to draw upon reserve currencies in the basket. Currently, these include dollar, euro, yen and pound sterling. Yuan will now be included from October 1, 2016.