FINANCIAL AND LEGAL CONSIDERATIONS OF THE FOREIGN EXCHANGE RATES ON BANK EXTERNAL TRADING OPERATIONS

Ignat Papazov

Abstract


The term "currency" has different meanings but is usually defined as any means of payment that is not in local currency units. The ratio between the foreign currency and local currency units results into exchange rate. When arranging payment transactions abroad, local entities - natural and legal persons must exchange their national currency in advance for the currency of the country in which they are due or in another currency commonly accepted as an international payment. Under this regime, the national currency is quoted in relation to another currency, that is exchange rate.

Keywords


currency, quote, correlation, currency, payrol, conversion rate

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References


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Popov, D. Usloviya na plashtane pri vanshnotargovskite sdelki. Sofiya: Siela, 1992.

Radkov, R. i dr. „Valuti i valutni sistemi“, Svishtov, 2000.


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