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WAEC Economics 1988 Question 17

Question 17

International Economic Organisations

The major currency used for granting credits to member countries of the International Monetary Fund (IMF) is the

  1. A.US dollar
  2. B.Canadian dollar
  3. C.Pound Sterling
  4. D.Deutschemark
  5. E.Belgian franc.
Show the answer and explanation

Answer: A (US dollar)

Explanation

The US dollar is the main reserve currency and the chief currency in which IMF credits were granted.