GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is known as the Paper Gold?
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US Dollar
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Pound
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Demand draft
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Special Drawing Right
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Explanation:
Detailed explanation-1: -The SDR unit of valuation is known as paper gold. SDR represents Special Drawing Rights. It is an accounting entry and measures a nation’s reserve assets with IMF.
Detailed explanation-2: -Special Drawing Rights (SDRs) The SDR is an international reserve asset created by the IMF to supplement the official reserves of its member countries. The SDR is not a currency. It is a potential claim on the freely usable currencies of IMF members. As such, SDRs can provide a country with liquidity.
Detailed explanation-3: -SDR stands for Special Drawing Rights. This refers to supplementary foreign-exchange reserve. It is also known as paper gold.
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