If someone needs to make a payment in the currency of another country, they must have actual possession of that currency.
Tricky.Especially in the day of electronic funds transfer, credit cards, etc.
Correct Answer:
Verified
Q8: Special Drawing Rights are international reserve assets
Q9: The banker's sight draft provides an exchange
Q10: Arbitrage is the simultaneous buying of securities
Q16: Intervention by central banks in the flexible
Q45: A trust receipt is an instrument through
Q52: The order bill of lading represents the
Q53: The United Nations operates a world central
Q55: The Export-Import Bank is a corporation owned
Q57: The capital account balance includes all foreign
Q59: The current account balance shows the flow
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents