Which currency was added to the IMF's Special Drawing Rights (SDR) basket, effective from October 2016?

Question

Accepted Answer

D. Renminbi (Chinese Yuan). China's Renminbi was formally added to the IMF's Special Drawing Rights basket with effect from October 2016, joining the US Dollar, Euro, Japanese Yen and British Pound as the fifth currency in the basket, a recognition of the Renminbi's growing role in global trade and reserves. The Indian Rupee, Swiss Franc and Singapore Dollar were never added to this basket, none of them met the IMF's criteria of being widely used and freely usable at that scale. Hence option D correctly identifies the Renminbi.

Answer

A. Indian Rupee

Answer

B. Swiss Franc

Answer

C. Singapore Dollar

Answer

D. Renminbi (Chinese Yuan)