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The value of Special Drawing Right (SDR) of the International Monetary Fund is determined by a basket of currencies consisting of how many currencies? 

The value of Special Drawing Right (SDR) of the International Monetary Fund is determined by a basket of currencies consisting of how many currencies?  Correct Answer 5

The correct answer is 5.

Key Points

  •  The XDR basket has consisted of the following five currencies:
    • U.S. dollar 41.73%
    • euro 30.93%
    • Chinese yuan 10.92%
    • Japanese yen 8.33%
    • British pound 8.09%.
  • The SDR is an international reserve asset created by the IMF to supplement the official reserves of its member countries. 

Additional Information

  • The currency value of the SDR is determined by summing the values in U.S. dollars, based on market exchange rates, of a basket of major currencies (the U.S. dollar, Euro, Japanese yen, pound sterling, and the Chinese renminbi).
  • SDR stands for Special Drawing Rights.
  • The headquarters of IMF is in Washington, D.C., United States.

Related Questions

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