Which of the following statement is not true about the International Monetary Fund?
A.
IMF was established along with the word bank
B.
IMF is the result of the Bretton Woods conference
C.
Christine Lagarde is the current Chief Executive Officer of the IMF
D.
Currently 193 countries are the members of the IMF
Answer: Option D
Explanation:
The International Monetary Fund (IMF) was created in 1945.The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
The value of Special Drawing Right (SDR) is determined by the basket of ......currencies?
A.
4
B.
5
C.
6
D.
7
Answer: Option B
Explanation:
The value of Special Drawing Right (SDR) is determined by the basket of 5 currencies. The currencies are, US Dollar, Japanese Yen, British Pound, Chinese Yuan and Euro
Which of the following currency has largest weightage in the determination of the value of the SDR?
A.
Japanese Yen
B.
Euro
C.
US Dollar
D.
British Pound
Answer: Option C
Explanation:
The IMF decided that the Renminbi (Chinese yuan) would be added to the SDR basket since October 1, 2016. Since then SDR basket consists of the following five currencies: U.S. dollar 41.73%, Euro 30.93%, Renminbi (Chinese yuan) 10.92%, Japanese yen 8.33%, British pound 8.09%.
