Topic: Currency relations, balance of payments and its deficit. International trade

Topic: Currency relations, balance of payments and its deficit. International trade

• Currency. International monetary system
• Transnational companies
• Balance of payments
• Offshores

Currency

• refers to a particular authorized monetary system, monetized in specific units (euros, dollars, pesos, ets.) which may be given international value by their exchange values in foreign exchange.
• Each currency typically has a main currency unit (the dollar, for example, or the euro) and a fractional unit, often defined as 1/100 of the main unit: 100 cents=1 dollar. Although units of 1/1000 occasionally also occur. Some currencies do not have any smaller units at all, such as the Icelandic krona.