Correct Option: A

Officially established on 27 December 1945, when the 29 participating countries at the conference of Bretton Woods signed its Articles of Agreement, the IMF was to be the keeper of the rules and the main instrument of public international management. The Fund commenced its financial operations on 1 March 1947 . IMF approval was necessary for any change in exchange rates in excess of 10% . It advised countries on policies affecting the monetary system and lent reserve currencies to nations that had incurred balance of payment debts.