Q14 · UPSC Prelims 2016 · Set A · Current Affairs and GK

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Recently,which one of the following currencies has been proposed to be added to the basket of IMF's SDR?

A Rouble
B Rand
C Indian Rupee
D Renminbi

Correct answer: (d) Renminbi

Explanation

  1. A

    Rouble

    Rouble. The Russian rouble was not added to the SDR basket in the 2015 review. This letter is not the key.

  2. B

    Rand

    Rand. South Africa’s rand is not an SDR currency. This letter is not the key.

  3. C

    Indian Rupee

    Indian rupee. The rupee was not included in the SDR basket. This letter is not the key.

  4. D

    Renminbi

    Renminbi. In November 2015 the IMF Executive Board decided to add the Chinese renminbi (yuan) to the SDR basket with effect from 1 October 2016, beside the dollar, euro, yen and pound. That stored letter is the official key.

Summary. Official key is (d) Renminbi. The 2015 SDR review made the yuan the fifth basket currency from October 2016. Rouble, rand and rupee were not added. Honour the stored letter (d).

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