A bill of exchange requesting the bank to pay the face amount upon presentation of documents is a:

Related MCQs

• A(n) ___________ is an unconditional promise drawn by one party, instructing the buyer to pay the face amount upon presentation.
• A _______ involves an exchange of currencies between two parties, with a promise to re-exchange currencies at a specified exchange rate and future date.
• A _______ involves an exchange of currencies between two parties, with a promise to re- exchange currencies at a specified exchange rate and future date.
• When an individual or firm in a particular country requests that a bank sell foreign exchange, the bank will probably
• Assume the following information regarding UK and European annualized interest rates: Currency Lending Rate Borrowing Rate UK pound (£) 6.73% 7.20% Euro (€) 6.80% 7.28% Milly Bank can borrow either £20 million or €20 million. The current spot rate of the euro is £0.75. Furthermore, Milly Bank expects the spot rate of the euro to be £0.76 in 90 days. What is Milly Bank’s pound profit from speculating if the spot rate of the euro is indeed £0.76 in 90 days?
• A bill of exchange includes.
• Who draws a bill of exchange?
• What is the person known as who draws a bill of exchange
• If countries are highly influential upon each other, the correlations of their economic growth levels would likely be __________. A firm would benefit __________ by diversifying sales among these countries relative to another set of countries that were not influential upon each other.
• Which of the following exchange rate policies uses a target exchange rate, but allows the target to change?