The Official Settlements Balance Records the Net Impact of the Central

question 58

True/False

The official settlements balance records the net impact of the central bank's interventions in the foreign-exchange market in support of the local currency.

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Definitions:

Electronic Fund Transfer

The movement of funds between different bank accounts electronically without the need for physical paper money.

Draft

A preliminary version of a piece of writing or a plan, or a banking term referring to a written order by one party to pay a certain sum to another party.

Instrument

A formal legal document representing a right to payment or to an interest in property.

Party

An individual or entity involved in a legal transaction or proceedings.