what is SDR? why is SDR called paper gold.
Answer (1)
8th Jun, 2020
Hello Aspirant,
SDR stands for Special Drawing Rights. It refers to an international type of monetary reserve currency creates by the International Monetary Fund (IMF) in 1969.
It operates as a supplement to the existing money reserves of member countries.
It was represented as an asset that could be used to offset balance of payment deficits in the same manner as gold or reserve currencies and hence it is called as paper gold.
I hope this information helps you.
Good Luck!!
Comments (0)
Related Questions
Why is it called RO?
9 Views
Why is it called ETA?
4 Views
