Question

# Select the incorrect statement/ statements regarding the exchange rate management by the International Monetary Fund (IMF) using the code given below:1. Exchange rate of the member countries was managed by the IMF as per the 'fixed currency system' till $$1976$$. which did not allow the market forces.2. 'Floating currency system' was first used in $$1971$$ by the UK.

A
Only 1
B
Only 2
C
1 and 2
D
None of the above

Solution

## The correct option is A Only $$1$$'Fixed currency system' functioned from $$1945$$ to $$1971$$. In $$1971$$, after the UK shifted to the 'floating system', the IMF allowed option to the member countries in selecting the system of exchange rate management through either of these two.Mathematics

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