- The SDR is an international reserve asset created by the IMF to supplement the official reserves of member countries. - The value of the SDR is based on a basket of key international currencies. Prior to 2016, the basket consisted of the US dollar, Euro, Japanese Yen, and British Pound. - In 2015, the IMF's Executive Board decided to include the Chinese Renminbi (RMB) in the SDR basket, effective October 1, 2016.
Recently, which one of the following currencies has been proposed to be added to the basket of IMF's SDR?
Asked in UPSC IAS 2016 · Topic: Balance of Payments (BoP) (Components of BoP: Financial Account (Official Reserve Account))
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