Gifts are not accounted for in a nation's balance of payments because no currency changes hands.

Name: Gifts are not accounted for in a nation's balance of payments because no currency changes hands.
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Gifts are accounted for in a nation's balance of payments under the current account as transfers, which include gifts of money, goods, or services from non-residents to residents or vice versa, regardless of whether currency changes hands directly.

Gifts Are Not Accounted for in a Nation's Balance of Payments