What is meant by the statement that foreign exchange quotations may be given in terms of sight drafts, cable orders, and time drafts?
Answer to relevant QuestionsDescribe the various ways by which an exporter may finance an international shipment of goods. How may commercial banks assist the exporter in the collection of drafts? Describe the ultimate sources of funds for export financing with bankers’ acceptances. How are acceptances acquired for investment by these sources? Explain the concept of “balance” as it relates to a nation’s balance of payments. Exchange rate relationships between the U.S. dollar and the euro have been quite volatile. When the euro began trading at the beginning of 1999, it was valued at 1.17 U.S. dollars. By late-2000, a euro was worth only $.83 ...Following are currency exchange “crossrates” between pairs of major currencies. Currency cross rates include both direct and indirect methods for expressing relative exchange rates. a. Fill in the missing exchange rates ...
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