ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Cash reserve account
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Gold reserve account
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Official reserve account
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Twin Tower Account
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Detailed explanation-1: -In a central bank’s accounts, foreign exchange reserves are called reserve assets in the capital account of the balance of payments, and may be labeled as reserve assets under assets by functional category.
Detailed explanation-2: -Foreign-exchange reserves of Trinidad and Tobago fell gradually from 7, 747 million US dollars in January 2018 to 5, 513 million US dollars in December 2022. The description is composed by our digital data assistant.
Detailed explanation-3: -Forex reserves or foreign exchange reserves (FX reserves) are assets that are held by a nation’s central bank or monetary authority.
Detailed explanation-4: -The official reserve account, a subdivision of the capital account, is the foreign currency and securities held by the government, usually by its central bank, and is used to balance the payments from year to year.