IMF increases India’s quota of Special Drawing Rights (SDR)

·        The International Monetary Fund (IMF) has made an allocation of Special Drawing Rights (SDR) 12.57 billion to India. (Approx USD 17.86 billion).

·        With this, the total SDR holding of India has gone upto SDR 13.66 billion (equivalent to around USD 19.41 billion).

·        SDR is one of the components of the Foreign Exchange Reserves (FER) of India.

·        Hence the Foreign Exchange Reserves (FER) has also increased now. IMF has allocated a total of SDR 456 billion to all its member countries out of which India has got SDR 12.57.

Important facts

About IMF:

v Headquarters: Washington, D.C. U.S

v Managing Director and Chairman: Kristalina Georgieva

v Chief Economist: Gita Gopinath.