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      Question

      Which of the following statements about the

      International monetary fund (IMF) is/are incorrect? I.         Promotion of exchange rate stability and an international payment system is one of the objectives of the IMF. II.         Special Drawing Rights (SDRs) is IMF's currency. III.         India is not a founder member of the IMF.
      A I and II only Correct Answer Incorrect Answer
      B II only Correct Answer Incorrect Answer
      C II and III only Correct Answer Incorrect Answer
      D All of the above Correct Answer Incorrect Answer

      Solution

      Explanation: Special Drawing Rights (SDRs) is the IMF’s unit of account and not a currency. The currency value of the SDR is determined by summing the values in U.S.  India is a founder member of the IMF.

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