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What Is the Official Reserves Account (ORA), and Why Is

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What is the Official Reserves Account (ORA), and why is it more important for countries under a fixed exchange rate regime than for ones under a floating exchange rate regime?


Definitions:

Governing Attorneys

The set of rules or standards that regulate the professional conduct of lawyers within a given jurisdiction.

State Legislatures

State Legislatures are legislative bodies at the state level in the United States, responsible for making state laws.

Less Regulation

Advocacy or initiatives aimed at reducing the number and impact of governmental rules controlling business or personal activities.

Higher Salaries

Compensation levels that are significantly above the average pay for a specific position or industry.

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