CURRENT AFFAIRS

Detailed explanation-1: -Detailed Solution. The correct answer is Saudi Arabia and UAE. The central banks Saudi Arabia and UAE have decided to launch a common digital currency named Aber.

Detailed explanation-2: -Some countries, including China, India, Nigeria and the Bahamas, have already rolled out digital currencies. Others, like Sweden and Japan, are preparing for possible rollouts.

Detailed explanation-3: -This is one of the reasons the Bahamas became the first country to introduce a digital currency in 2020. Nigeria and Jamaica have since followed suit, with China and more than 20 other countries running trial projects.

Detailed explanation-4: -The Minister stated in response to another question that RBI has already rolled out a pilot in the retail version of the CBDC (e₹-R), on December 01, 2022. The e₹-R is in the form of a digital token that represents legal tender. It is being issued in the same denominations as the paper currency and coins.

Detailed explanation-5: -E-CNY is a digitized version of China’s cash and coins and, like other CBDCs, it was deployed on a blockchain distributed ledger - an online, distributed database that tracks transactions.