According to the IMF, SDR stands for _________________.

Standard Depreciation Rate

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Special Drawing Rights

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State Bank's Deposit Rate

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Special Deposit Rate

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Solution

The correct option is B Special Drawing Rights
Officially SDR is defined as "The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. The SDR was created as a supplementary international reserve asset in the context of the Bretton Woods fixed exchange rate system. The collapse of Bretton Woods system in 1973 and the shift of major currencies to floating exchange rate regimes lessened the reliance on the SDR as a global reserve asset."

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