Section 4
The Money of International Business
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3 concepts
![Thumbnail](../../../../../../figures.boundless-cdn.com/2043/square/exchange-rates-display.jpeg)
Exchange Rates
The price of one country's currency in units of another country's currency is known as a foreign currency exchange rate.
![Thumbnail](../../../../../../figures.boundless-cdn.com/4281/raw/us-trade-balance-1980-2011.jpg)
Balance of Trade
The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period.
![Thumbnail](../../../../../../figures.boundless-cdn.com/2044/square/nt-balance-per-capita-2006.jpg)
Balance of Payments
Balance of payments (BOP) accounts are an accounting record of all monetary transactions between a country and the rest of the world.