Recently, which one of the following currencies has been proposed to be added to the basket of IMF's SDR?
Show answer
Answer: D. In November 2015 the IMF decided to add China's renminbi (yuan) to the SDR basket, effective 1 October 2016. It joined the US dollar, euro, yen and pound.
Watch for: Students pick a BRICS currency they know well, but only China's met the IMF's tests.
Why the other options are wrong
- A. Wrong because the Russian rouble was not proposed for the SDR basket.
- B. Wrong because the South African rand was not proposed.
- C. Wrong because the Indian rupee was not proposed.
Source to check: IMF press release No. 15/540, 30 November 2015 (imf.org)
Answer from the official UPSC key. Written and fact-checked by AI against the official key. Spotted a mistake? Report it.