If you go to the BEA website for “U.S. International Transactions” (http://wwwbea.gov/iTable/iTable.cfm?reqid=62&step=1&isuri=1#reqid=62&step=6&isuri=1&6210=1&6200=1), table 1.1, you will find that in 2015, U.S. income receipts on its foreign assets were $775.85 billion (line 6), while the country’s payments on liabilities to foreigners were $582.47 billion (line 14). Yet we saw in this chapter that the United States is a substantial net debtor to foreigners. How, then, is it possible that the United States received more foreign asset income than it paid out?

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TABLE 14-1 Exchange Rate Quotations CURRENCIES POUND Closing Mid 19.6613 1.6303 0.4639 8.5267 3.9480 1.6398 32428 813.8212 84610 EURO Closing DOLLAR DOLLAR EURO POUND Closing Closing Mid Closing Day's Change Day's Change 0.1293 0.0076 Day's Change Jan 19 0.0603 Indonesia 0 0014 Israel 0 0014 Japan 0.0269 One Month 0.0241 Three Month 0.0235 One Year Day's Change 31.0000 14191.3620 -76.4156 16454.8381 Day's Change Day's Change Closing Mid Currency Argentine Peso Australian Dollar Bahrainin Dinar Bolivian Boliniano Brazilian Real Canadian Dollar Currency Indonesian Rupiah Israeli Shekel Japanese Yen Jan 19 Mid Mid Mid Argentina Australia Bahrain Bolivia 16.9567 1.4061 0.4001 7.3538 3.4049 1.4142 701.8740 7.2971 31228189 159795 1.3250 03771 6.9300 3.2087 1.3327 861.4250 0.0015 0.0031 0.0000 13373.5000 3.8222 115.2950 115.2949 115 2945 115.2927 103.9000 0.3054 4.4490 -13.7391 0.0045 0.0157 4.0559 -0.0145 4.7029 1.2155 141.8596 12156 141.8596 1.2156 141.8594 12156 0.0030 0.0568 0.0363 0.0139 20200 20198 20191 20155 122.3458 122.3458 122.3458 122.3459 110.2539 0.3240 4.7211 23.2976 2.0450 20449 2.0445 20437 0.0094 0.0233 2.0350 0.0424 7.4950 3.3600 Brazil Canada Chile China 141.8596 0.8512 127.8392 0.0023 Chilean Peso Chinese Yuan Colombian Peso Costa Rican Colon Czech Koruna Danish Krone Egyptian Pound Hong Kong Dollar Hungarian Forint Indian Rupee 0.0597 Kenya 0.0256 Kuwait 2.1895 Malaysia 1.9971 Mexico 01426 New Zealand Kenyan Shilling Kuwaiti Dinar Malaysian Ringgit Mexican Peson New Zealand Dollar Nigerian Naira Norwegian Krone Pakistani Rupee Peruvian Nuevo Sal Philippine Peso -0.4039 -0.0009 6.8766 0.0110 0.0002 0.3757 2942.8500 553.0400 25.4634 7.0073 189085 7.7569 290 9580 68.1625 -16.0953 3620.9004 0.9380 680 4637 31.3303 8.6218 23.2651 Colombia Costa Rica 0.0045 0.1729 0 0049 -10.0000 0.0389 0.0316 5.4741 27.0136 -0.0117 0.1280 0 0007 586.8608 27.0206 21.9550 1.3942 304.7500 8.4894 104.8050 3.3408 49 9875 0.0050 Czech Republic Denmark Egypt Hong Kong Hungary India Rates are derived from WM Reuters Spot Rates and MorningStar (latest rates at time of production). Some values are rounded. Currency redenominated by 1000. The exchange rates printed in this tatle are also available at www.FT.com/marketsdata 0.1957 0.0534 0.0350 0.0007 1.4795 -0.0061 1.7154 0.0387 Nigeria 0.0303 Norway 0.0291 Pakistan 2 6673 Peru 0.1342 Philippines 323.3868 9.0086 -13.5278 0.0151 -0.4075 -0.0206 0.0402 7.4358 20.0648 8.2313 0.0003 -0.1175 -13.1902 374.9662 0.0279 10.4454 08587 128.9527 0.0626 0.0008 3.0774 0.1060 95441 111.2143 3.5451 53.0445 02064 61.5049 0.9071 357.9963 83.8675 0.4451 0.0340 308.7513 72.3309 -0 0062 4.1105 0.1900 EURO DOLLAR Day's Change 0.0026 DOLLAR Closing Mid EURO POUND POUND Closing Day's Change Day's Change Closing Day's Closing Day's Closing Day's Closing Mid Jan 19 Poland Romania Russia Saudi Arabia Singapore South Africa South Korea Sweden Switzerland Taiwan Thailand Tunisia Turkey United Arab Emirates United Kingdom One Month Change Change Jan 19 Change Currency Polish Zloty Romanian Leu Currency Mid Mid Mid Mid 4.3707 4.4973 63.5254 39798 15170 5.0678 4.1188 4.2381 59.8644 3.7505 1.4296 08130 08141 0.0067 0.0010 0.0890 -0.0308 -0.0029 0.0306 Three Month 0.0378 0.0334 0.5419 -0.0001 0.0082 0.1300 10.8500 0.0963 0.0091 0.0465 0.8623 0.8616 1.0612 1.0610 1.0607 0.0039 0.0039 0.0082 0.1731 0.1731 0.0248 One Yoar 0.4361 United States 0.0147 One Month 0.0046 Three Month 0.1075 One Yaar 88139 Venezuela 0.0839 Vietnam 0.0072 European Union 0.0654 One Month 0.0536 Three Month 0.0212 One Yoar 0.0628 0.0142 5.2146 73.6575 4.6146 0.0026 United States Collar Russian Ruble Saudi Riyal Singapore Dollar Sauth African Rand 1.2304 1.2305 1.2307 1.2318 0.0035 0.0039 0.0039 0.003E 0.0327 -97.6225 0.0052 0.0053 0.0052 0.0053 1.7590 16.7443 1448 9259 11.0814 1.2435 38.8685 43.5299 13.6088 1177.6000 9.0063 1.0107 31.5900 14.4410 12496154 9.5571 1.0725 33.5219 37 5420 2.4471 4.0660 3.8977 0.8624 0.8624 00275 1.9545 1.0589 10.6062 8.0000 23944 9840 -193.3965 27764.1271 0.1732 0.0765 South Korean Won Swadish Krona Swiss Franc New Taiwan Dollar Thai Baht Tunisian Dinar Turkish Lira UAE Dirham Pound Sterling Verenelan Belivar uene Vietnamese Dong 99950 22565 0000 09424 09422 0.0050 12.2979 0.0292 0.0014 0 2091 02171 0.0072 0.0359 0.0300 -0.0039 -0.0039 0.0072 0.0072 0.0072 0.0072 Euro 1.1595 1.1594 35.3785 2.3061 3.8317 3.6731 0.8127 0.8128 0.0680 0.0244 0.0630 0.0001 0.0026 0.0026 09419 09401 1.1593 1.1587 2.8374 4.7145 4.5194