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WAEC Economics 1996 Question 32

Question 32

Balance of Payments and Exchange Rates

The current and capital accounts in Nigeria's balance of payments contain all the following items except

  1. A.oil export
  2. B.receipts for shipping services
  3. C.cost of aviation
  4. D.foreign investment
  5. E.IMF Standard Drawing Right (SDR)
Show the answer and explanation

Answer: E (IMF Standard Drawing Right (SDR))

Explanation

SDRs are reserve assets recorded in the official settlements (monetary movements) account, not the current or capital account.