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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:

Golf Balls

Small, dimpled balls designed and constructed for use in the game of golf, optimized to fly far and straight when struck by golf clubs.

Pro Shop

A specialty retail store located within a sports venue, typically selling equipment and merchandise related to the sport or activity hosted at the venue.

Expected Value

The long-term average or mean value of a random variable over many repetitions of an experiment.

Good Batteries

Indicate batteries that are fully functional, holding charge as expected and not defective.

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