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.
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