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Economic Glossary

    IMF

The abbreviation for International Monetary Fund, which is an agency of the United Nations established in 1945 to monitor and stabilize foreign exchange markets. Close to 150 of the world's nations (which is just about all of them) belong to the IMF. The IMF was set up to keep countries from manipulating their exchange rates in such a way as to gain a competitive trading advantage over others. Their strategies of control have changed over the decades, but they currently use a managed float where exchange rates are allowed to fluctuate with changing market conditions, but only within certain ranges. The IMF also plays an active role in providing the "international" currency needed to participate in foreign trade through its system of Special Drawing Rights


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Banker's Algo Daily Dose

Word of the day

Equivocate(v)

Meaning:

to use ambiguous or unclear expressions, usually to avoid commitment or in order to mislead; prevaricate or hedge

Synonyms: dodge, double-talk, elude, escape, eschew, evade, falsify, fence

Antonyms: face, meet, speak on

Apti Question of The day

Question

Sanjeev started a business by investing Rs. 36000. After 3 months Rajiv joined him by investing Rs. 36000. Out of annual profit of Rs. 37100, find the share of each?

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