Consider the following statements.
(1) The Special Drawing Right (SDR) is a monetary unit of international reserve assets defined and maintained by the International Monetary Fund.
(2) The SDR is weighted sum of contributions of five major currencies, Euro, British Pound, US Dollar, Japanese Yen and the Chinese Yuan.
(3) SDRs are allocated to member states as a low cost alternative to debt financing for building reserves carrying an interest rate that is computed on a weekly basis.
Which of the statements given above is/are correct?
(A) 1 only
(B) 2 only
(C) 1 & 3 only
(D) 1, 2 & 3
Answer: (C) 1 & 3 only