BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Foreign exchange banks specialized in providing ____
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long term loans
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short term loans
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agricultural loans
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foreign exchange
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Explanation:
Detailed explanation-1: -Explanation: Foreign Exchange banks: These banks specialize in financing foreign trade.
Detailed explanation-2: -Foreign exchange refers to exchanging the currency of one country for another at prevailing exchange rates. Let us take a close look at the meaning of foreign exchange. Different countries have different currencies. Foreign exchange converts the currency of one country into another.
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