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Consider the following statements:
1. The internationalisation of the rupee involves promoting its use as a widely accepted currency for international transactions and investments.
2. In 2022, the Reserve Bank of India (RBI) enabled the first settlement of foreign trade in rupees with Russia.
3. The US dollar accounts for about 88% of global forex turnover according to the BIS Triennial Central Bank Survey 2022, while the rupee accounts for approximately 4%.
Which of the statements given above is/are correct?
  • a)
    1 Only
  • b)
    1 and 2 Only
  • c)
    1 and 3 Only
  • d)
    1, 2 and 3
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements:1. The internationalisation of the r...
- Statement 1: Correct. Internationalisation of the rupee involves increasing its use as a widely accepted currency for international transactions and investments. This process enhances the currency's acceptance, liquidity, and usability in global markets.
- Statement 2: Correct. In December 2022, India saw its first settlement of foreign trade in rupees with Russia, as part of an arrangement by the RBI to promote invoicing, payment, and settlement of exports/imports in the rupee.
- Statement 3: Incorrect. According to the BIS Triennial Central Bank Survey 2022, the US dollar accounts for 88% of global forex turnover, but the rupee accounts for only 1.6%, not 4%.
Thus, the correct statements are 1 and 2 only.
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Consider the following statements:1. The internationalisation of the rupee involves promoting its use as a widely accepted currency for international transactions and investments.2. In 2022, the Reserve Bank of India (RBI) enabled the first settlement of foreign trade in rupees with Russia.3. The US dollar accounts for about 88% of global forex turnover according to the BIS Triennial Central Bank Survey 2022, while the rupee accounts for approximately 4%.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements:1. The internationalisation of the rupee involves promoting its use as a widely accepted currency for international transactions and investments.2. In 2022, the Reserve Bank of India (RBI) enabled the first settlement of foreign trade in rupees with Russia.3. The US dollar accounts for about 88% of global forex turnover according to the BIS Triennial Central Bank Survey 2022, while the rupee accounts for approximately 4%.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:1. The internationalisation of the rupee involves promoting its use as a widely accepted currency for international transactions and investments.2. In 2022, the Reserve Bank of India (RBI) enabled the first settlement of foreign trade in rupees with Russia.3. The US dollar accounts for about 88% of global forex turnover according to the BIS Triennial Central Bank Survey 2022, while the rupee accounts for approximately 4%.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:1. The internationalisation of the rupee involves promoting its use as a widely accepted currency for international transactions and investments.2. In 2022, the Reserve Bank of India (RBI) enabled the first settlement of foreign trade in rupees with Russia.3. The US dollar accounts for about 88% of global forex turnover according to the BIS Triennial Central Bank Survey 2022, while the rupee accounts for approximately 4%.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?.
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