Asked in Australia, Currency Conversions
What is Partial convertibility of currency?
it means that any domestic or foreign agent can convert its domestic currency to a foreign currency at an official exchange rate in order to complete the current account transaction. current account transaction involves the purchase and sell of visibles and invisibles like goods & services. ...
When did the US abandon its maintenance of the dollars convertibility?
The United States ultimately could not maintain the dollar's promised convertibility, ending it in 1971. ...
What are the advantages and disadvantages of capital account convertibility?
An advantage is that is encourages short-term investments from foreigners. A disadvantage is that may take away investments from Indian companies. ...
What is the different between cash credit account and current account?
Diff. between CC account & current account
Difference between current account and cash credit account?
i am a student and wanted to open my account should i open a current account or credit account ...
What is the relationship between capital account balance and current account balance?
The balance of payments, then, is the sum of the balance on current account and the balance on capital and financial account. It is important to understand that the deficit indicated by the current account is financed through activities recorded on the capital and financial account. The deficit on the current account must be exactly offset by the surplus on the capital and financial account (if it is not, net errors and omissions will correct it). This means then that the sum...
Analysis of the types of terms of trade?
the current account and the current account balance are within the terms of trade. if you there is money entering the money supply from a foreign market or someone who has not yet deposited the money into a banking system, that will be a current account. it will be a current account balance, composed of capital account, trade account, and account deficit. this means, if the money is leaving the country. ...
Why was the US forced to abandon its promise to maintain the dollars convertibility?
The US could not maintain the dollar's convertibility because of inflation and a subsequent run on the U.S. gold reserve. ...
Asked in Banking
What is current account in bank?
A current account is an account used predominantly by businessmen. There usually a higher number of transactions that are allowed in a current account when compared to savings account and it also earns much lesser interest than a savings account. Savings accounts are much more common in India than current accounts. ...
Difference between current account and call deposit account?
A call deposit account is a hybrid form of Current account and general saving account which allows us to withdraw money at any time as in current account and provides us interest on the deposit amount as in other saving account. ...
What is capital account convertibility?
In India, the foreign exchange transactions (transactions in dollars, pounds, or any other currency) are broadly classified into two accounts: current account transactions and capital account transactions. If an Indian citizen needs foreign exchange of smaller amounts, say $3,000, for travelling abroad or for educational purposes, she/he can obtain the same from a bank or a money-changer. This is a "current account transaction". But, if someone wants to import plant and machinery or invest abroad, and needs a large amount of foreign exchange,...
What is the difference between a current account and a deposit account?
A current account is an account in which money or cheques can be taken out or payments can be made at any time. A deposit account is an account in which money is placed and left for a period of time, and interest is earned. ...
Asked in Economics, 2008 Economic Crisis
Distingush with examples between visible and invisible iterms in the current account of the balance of payment?
Goods are considered visible items on the current account, whereas, services are considered invisible items on the current account. ...
Is the interest on current account higher than that of the saving account?
Of course not,current account does not have any interest,due to the withdrawal of the money for business at any time. ...
What is the difference between a current account and a call deposit account?
You can withdraw cash at your call deposit account at any time if you have a call deposit account. The current account has the sum of the income of the goods and service less the expenditure. ...