Special Drawing Rights Subject: Economy Section: External Sector Why in the news? The IMF raised the yuan’s weighting to 12.28 per cent from 10.92 in its first regular review of the SDR evaluation since the Chinese currency was included in the basket in 2016, the People’s Bank of China said in a statement […]

    Special Drawing Rights Subject – Economy Context – IMF allocates 12.57 billion SDRs to India. Concept – The SDR is an international reserve asset, created by the International Monetary Fund (IMF) in 1969 to supplement its member countries’ official reserves. The SDR is neither a currency nor a claim on the IMF. Rather, […]