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The International Monetary Fund (IMF) has sharply increased its allocation of Special Drawing Rights (SDR) to India to how many billion dollars, in line with the country's existing quota in the fund?

The International Monetary Fund (IMF) has sharply increased its allocation of Special Drawing Rights (SDR) to India to how many billion dollars, in line with the country's existing quota in the fund? Correct Answer 17.86

The correct answer is $17.86 billion.

Key Points

  • The International Monetary Fund (IMF) has sharply increased its allocation of Special Drawing Rights (SDR) to India to $17.86 billion, in line with the country's existing quota in the fund.
  • The total SDR holdings of India now stands at SDR 13.66 billion (equivalent to around USD 19.41 billion at the latest exchange rate) as on August 23, 2021.

Additional Information

  • SDR is an alternate reserve currency floated by the IMF, which the member countries can freely exchange between themselves instead of relying on the currency of any one particular country.
  • ​The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves.
  • The SDR serves as the unit of account of the IMF and other international organizations.
  • The SDR is neither a currency nor a claim on the IMF.
  • SDRs can be exchanged for currencies.

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