Question : Special Drawing Rights (SDR) facility is available at:
Option 1: International Monetary Fund (IMF)
Option 2: World Bank (IBRD)
Option 3: International Develop-ment Association (IDA)
Option 4: Organisation of Economic Cooperation and Development (OECD)
Correct Answer: International Monetary Fund (IMF)
Solution : The correct option is - International Monetary Fund (IMF)
The term Special Drawing Rights (SDR) refers to a form of international reserve currency established by the International Monetary Fund (IMF) in 1969 as an addition to the existing foreign exchange reserves of member nations. SDRs are an addition to the standard reserve currencies, increasing worldwide liquidity. They were developed in response to issues about the constraints of gold and dollars being the exclusive way of settling international accounts.
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