Civil Services Chhattisgarh State Service (CGPSC) Prelims Mock Test 2025 Current Affairs Business and Economy
Consider the following statements regarding Currency Swap Arrangements:
Statement I: Currency Swap Arrangements help ensure liquidity during financial crises by providing access to foreign currencies.
Statement II: Such arrangements are particularly useful in reducing a country's dependence on the US dollar for international trade.
Which of the following is correct with respect to the above statements?
1
Both Statement I and Statement II are correct, and Statement II explains Statement I.
2
Both Statement I and Statement II are correct, but Statement II does not explain Statement I.
3
Statement I is correct, but Statement II is incorrect.
4
Statement I is incorrect, but Statement II is correct.