Which of the following institutions simplifies financial settlements between buyers and sellers in different countries?
A) the U.S. State Department
B) the International Monetary Fund
C) the World Bank
D) commercial banks
E) the Internet

Question

Quizplus · Accepted Answer

D)Banks convert currencies used by buyers into the seller's currency. And money itself need not flow between the banks in each country, unless some is needed to cover a difference between inflows and outflows.

Which of the Following Institutions Simplifies Financial Settlements Between Buyers