Special drawing rights

IMF raises India’s SDR allocation

The International Monetary Fund (IMF) has increased the allocation of Special Drawing Rights (SDR) to India in line with the existing quota of India in the fund. Highlights SDR is an alternate reserve currency which is floated by the IMF. ..

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Foreign exchange reserves surge by USD 9.427 billion

As per RBI Data, India’s foreign exchange reserves surged by USD 9.427 billion. Foreign exchange reserves now stand at a record high of USD 620.576 billion in the week ended July 30. Key Points In 3rd week of July, reserves ..

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IMF approves $650 billion for poor countries to tackle Covid

Member nations of the International Monetary Fund have approved the injection of $650 billion to help countries in dealing with mounting debt and economic fallout because of Covid-19 pandemic. Highlights These reserve assets, called as special drawing rights, have been ..

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India: 4th largest Forex Reserves holder

India’s forex reserves crossed $600 mark for the first time and as on June 4, it stood at $605 billion. With this, India equals Russia as the fourth largest reserve holder worldwide. Highlights India’s forex reserve was $605.008 billion while ..

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IMF: Sub-Saharan Africa to see world’s slowest growth in 2021

The International Monetary Fund recently released the Regional Economic Outlook for Sub Saharan Africa. According to the report the Sub Saharan region is to witness the world’s slowest growth in 2021. Key Findings The sub-Saharan region is projected to grow ..

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IMF to distribute SDR to member countries by August

The International Monetary Fund recently announced that it will distribute the Special Drawing Rights to its member countries by mid-August. Key Highlights The IMF has agreed to support SDR allocation of 650 million USD. This is the largest in the ..

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