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What is meant by foreign exchange ?...

What is meant by foreign exchange ?

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Foreign exchange refers to all currencies other than th domestic currency of a given country. For exampl, US dollar is foreign exchange for india.
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Knowledge Check

  • When receipts of foreign exchange are more than payments of foreign exchange, BOP is:

    A
    Balanced
    B
    Surplus
    C
    Deficit
    D
    None of these

  • When receipts of foreign exchange are less than payments of foreign exchange, then BOP is:

    A
    deficit
    B
    surplus
    C
    balanced
    D
    none of these

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