Tourism services to tourist-Balance of payment
In which account of balance of payment tourism services to tourist are involved? Answer: Tourism services to tourist are comprised in current account of Balance of payments.
In which account of balance of payment tourism services to tourist are involved?
Answer: Tourism services to tourist are comprised in current account of Balance of payments.
Balance of payment Accounts: It is the systematic record of all economic transactions among the residents of a country and rest of the world in a specified period (1-year) of time.
Components of current account of BOP account: (A) Import-Export of goods(B) Import-Export of services(C) Unilateral transfers
Flexible (or floating) exchange rate system: This is a system in which exchange rate is found out by forces of demand and supply of the foreign currencies concerned in the foreign exchange market. There is no official interference in the foreign excha
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Fixed exchange rate system (or pegged exchange rate system): This is a system in which exchange rate of a currency is fixed by government. This system makes sure stability in the foreign trade and capital movement.
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