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.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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