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Consider the following statements regarding Special Drawing Right (SDR).
  1. The Special Drawing Right (SDR) is an interest-bearing international reserve asset created by the IMF.
  2. The value of the SDR is not set by IMF, rather it is directly determined by supply and demand in the market.
  3. It can be held and used by member countries, private entities or individuals.
Which of the above statements is/are correct?
  • a)
    1, 2 
  • b)
    1 only 
  • c)
    2, 3 
  • d)
    1, 3
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding Special Drawing Right (SDR...
  • The Special Drawing Right (SDR) is an interest-bearing international reserve asset created by the IMF in 1969 to supplement other reserve assets of member countries.
  • The SDR is based on a basket of international currencies comprising the U.S. dollar, Japanese yen, euro, pound sterling and Chinese Renminbi. It is not a currency, nor a claim on the IMF, but is potentially a claim on freely usable currencies of IMF members. The value of the SDR is not directly determined by supply and demand in the market, but is set daily by the IMF on the basis of market exchange rates between the currencies included in the SDR basket.
  • It can be held and used by member countries, the IMF, and certain designated official entities called “prescribed holders”—but it cannot be held, for example, by private entities or individuals. Its status as a reserve asset derives from the commitments of members to hold, accept, and honor obligations denominated in SDR.
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Consider the following statements regarding Special Drawing Right (SDR). The Special Drawing Right (SDR) is an interest-bearing international reserve asset created by the IMF. The value of the SDR is not set by IMF, rather it is directly determined by supply and demand in the market. It can be held and used by member countries, private entities or individuals.Which of the above statements is/are correct?a)1, 2b)1 onlyc)2, 3d)1, 3Correct answer is option 'B'. Can you explain this answer?
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