Pls explain what is the difference between RFC(Resident Foreign Currency) account and EEFC (Exchange Earners Foreign Currency) account? EEFC Accounts:- Residents can retain upto 50% of foreign currency remittances received from abroad in a foreign currency account, viz., EEFC account, with an authorised dealer in India. Funds held in EEFC account can be utilised for current account transactions and also for approved capital account transactions as specified by the extant Rules/Regulations/ Notifications/
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increased impact of international influences on all aspects of life and economic activity * No longer are economies dominated by local influences but rather through global influences from another countries and economies due to the impact of globalisation. * The aggregate value of all goods and services produced worldwide each year in the global economy is known as gross world economy * The Great depression in the 1930’s and the world wars are examples of international influences on economies
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producers are capable of price discriminating among different international markets (Knetter, 1989). The fact that price discrimination for certain types of goods arise in the international goods markets may be due to the difficulty or absence of international arbitrage. Particularly, differing national standards (for instance, left-hand-drive cars are not sold in the U.K.) or monopolistic firms’ ability may both impede international goods arbitrage (Sarno and Taylor, 2002). Apart
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A. Terms of Trade The relative price of exports in terms of imports and is defined as the ratio of export prices to import prices. It can be interpreted as the amount of import goods an economy can purchase per unit of export goods. An improvement of a nation's terms of trade benefits that country in the sense that it can buy more imports for any given level of exports. A deteriorating TOT would mean import prices rise relative to export prices. Lower results generally indicate that there is
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Fundamental Symmetry in International Payment Paterns.” Journal of International Economics, 1973, 3, pp.105-116. Hartmann Philip. “Curency Competition and Foreign Exchange Markets: the Dolar, the Yen and the Euro.” Cambridge University Press, 1998. Hayek. F. A. “The Denationalization of Money.” 2d ed. London :Institute of economic Afairs, 1970. Ito, Takatoshi, “The Yen and the International Monetary System,” in C.F. Bergsten and M. Noland, eds., Pacific Dynamism and the International Economic System, Washington
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Globalization and the Multinational Firm What’s Special about International Finance? Foreign Exchange and Political Risks Market Imperfections Expanded Opportunity Set Goals for International Financial Management Globalization of the World Economy: Major Trends and Developments Emergence of Globalized Financial Markets Emergence of the Euro as a Global Currency Europe’s Sovereign Debt Crisis of 2010 Trade Liberalization and Economic Integration Privatization Global Financial Crisis of 2008–2009
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ECON310-1404B-06: Global Managerial Economics Phase: 1 Individual Project The World Bank and International Monetary Fund The World Bank is one of the world’s largest sources of funding and knowledge to support governments of member countries in their efforts to invest in schools and health centers, provide water and electricity, fight disease and protect the environment. This support is provided through project or policy-based loans and grants
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After reading this week’s material, it became a little easier to understand several impacts of currency devaluation and revaluation on international trade. Before I begin to provide the impacts I will first define devaluation and revaluation. Zaiby (2008) says that devaluation occurs when a nation decreases the value of their currency to match the value of gold or other countries; it can be seen as a means to correcting a deficit that is interchangeably with depreciation through values of money
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Trade Report International trade is one of the best things a country can do for its economy. It creates amazing opportunity for countries to specialize in what they make best after weighing out their opportunity costs, make more money, increase their production, and create relationships with other countries. There are many advantages to international trade but there can also be some disadvantages as well. When a country is making a decision on whether or not they are going to trade internationally
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used by the World Bank and other international organizations to supersede the term GNP. Gross national product (GNP) GDP plus income from non-resident sources abroad Group of 20 (G-20) The group of 19 major countries plus the European Union (EU) whose leaders meet on a biannual basis to solve global economic problems. International business (IB) (1) A business (or firm) that engages in international (crossborder) economic activities and/or (2) the action
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