BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Japanese Yen
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U.S. Dollar
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Chinese Yuan
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Brazil Real
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Detailed explanation-1: -The correct answer is Renminbi. The SDR is an international reserve asset, created by the IMF in 1969. 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.
Detailed explanation-2: -The SDR is an international reserve asset. The SDR is not a currency, but its value is based on a basket of five currencies-the US dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound sterling.
Detailed explanation-3: -The Special Drawing Right (SDR) is an interest-bearing international reserve asset created by the IMF in 1969 to supplement other reserve assets of member countries. The SDR is based on a basket of international currencies comprising the U.S. dollar, Japanese yen, euro, pound sterling and Chinese Renminbi.
Detailed explanation-4: -SDR stands for Special Drawing Rights. This refers to supplementary foreign-exchange reserve. It is also known as paper gold.