Developed by the International Monetary Fund to cope with universally floating exchange rates, ________ represent an average base of value derived from the value of a group of major currencies.
A) exchange permits
B) special drawing rights
C) floating currencies
D) gold rates
E) dollar parities

Question

Quizplus · Accepted Answer

Special Drawing Rights (SDRs) were developed by the International Monetary Fund (IMF) as an international type of monetary reserve currency. SDRs are designed to supplement the existing reserves of member countries and are based on a basket of major international currencies, thus providing a stable base of value in the context of floating exchange rates.

Developed by the International Monetary Fund to Cope with Universally