Answer-Consider the following statement about Special Drawing Rights (SDR): I. The value of the SDR was ini...

The value of the SDR was initially defined as equivalent to 0.888671 grams of fine goldwhich, at the time, was also equivalent to one U.S. dollar. After the collapse of the Bretton Woods system in 1973, the SDR was redefined as a basket of currencies. Currently, the SDR basket consists of the U.S. dollar, Euro, Japanese yen, Pound sterling and the Chinese renminbi RMB.

Question

Consider the following statement about Special Drawing Rights (SD

B . Which of the above statement is/are not correct?
R : I. The value of the SDR was initially defined as equivalent to 0.888671 grams of fine gold. II. After the collapse of the Bretton Woods system in 1973, the SDR was redefined as a basket of currencies. III. the SDR basket consists of the U.S. dollar, Euro, Japanese yen, Indian Rupee and the Chinese renminbi (RM