Page-2 of Special drawing rights Current Affairs, GK & News

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 history of IMF. Recently, the G20 Finance Minsters agreed to the International Monetary Fund to ..

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G20 nods to IMF for fresh SDR issue

The G20 Finance Ministers recently nodded to the International Monetary Fund to provide fresh Special Drawing Rights to its member countries. The IMF has been permitted to provide SDR of worth 650 million USD to the member countries. This will help boost the reserves of all nations and will avoid pushing low-income countries into further ..

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Forex Reserves of India are rising

The Forex Reserves of India are increasing and are to hit 500 billion USD soon. In May 2020, the Indian Forex Reserves touched an all time high of 493 billion USD. What is Foreign Exchange Reserve? The Foreign Exchange Reserves are the reserve assets that are held by the central bank in foreign currencies. It ..

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RBI and Finance Ministry to meet to decide on First Half Borrowing Plan

The Finance Ministry and the Reserve Bank of India is to hold a meeting on March 31, 2020 to discuss about the first half borrowing plan for the year 2020-21. For the first time in Indian history, the meeting is to be held through video conferencing. The Plan According to the Union Budget 2020-21, the ..

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India’s Foreign Exchange touches all time high of 457.468 billion USD

RBI announced that Foreign Exchange Reserves of India has swelled by 2.52 billion USD in the week that ended on December 27, 2019. The Central Bank also said that the country’s special drawing rights with the IMF (International Monetary Fund) dipped by 2 million USD and the reserve position increased by 58 million USD. Currently, ..

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