Correct answer: (d) Renminbi
Explanation
- A
Rouble
Rouble. The Russian rouble was not added to the SDR basket in the 2015 review. This letter is not the key.
- B
Rand
Rand. South Africa’s rand is not an SDR currency. This letter is not the key.
- C
Indian Rupee
Indian rupee. The rupee was not included in the SDR basket. This letter is not the key.
- 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).
Same topic · past papers
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2023 · Q72 · General Studies · 2 marks
With reference to Central Bank digital currencies, consider the following statements : 1. It is possible to make payments in a digital currency without using US dollar or SWIFT system. 2. A digital currency can be distributed with a condition programmed into it such as a time-fame for spending it. Which of the statements given above is/are correct?