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What is Balance of Payments in Finance about?

This document discusses balance of payments and how it differs between floating and fixed exchange rate regimes. It uses an example of a US investor wanting to invest $1000 in a British firm. Under a floating exchange rate, the exchange rate adjusts to allow the transaction, keeping the balance of payments in equilibrium. Under a fixed rate, the central bank must use its reserves to buy the excess dollars, creating a balance of payments deficit. Key lessons are that the balance of payments is always in equi

Author

Tasneem Raihan

Language

EN