Chicago based Corporation X has a number of importing transactions with companies based in UK.Importing activities result in payables.If the settlement currency is the British Pound,which of the following will happen by changes in the direct or indirect exchange rates?
Definitions:
Federal Reserve Board
The governing body of the Federal Reserve System, responsible for overseeing the United States' central banking system and setting monetary policy.
Chairman
A person appointed or elected to preside over a meeting, board, or committee.
President
The head of state and head of government in a republic, typically elected to lead the country's executive branch and implement national laws and policies.
Board of Governors
The leading body of a central bank in many countries, responsible for overseeing the management and operations of the bank.
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