ECONOMICS
FOREIGN CURRENCY MARKETS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Turks and Caicos
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Mexico
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South Korea
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Bermuda
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Detailed explanation-1: -Bermuda is a highly successful offshore financial center. The Bermuda Monetary Authority (BMA) oversees financial services with a risk-based approach to the regulation and supervision of banks and deposit companies in Bermuda.
Detailed explanation-2: -The term offshore refers to a location outside of one’s home country. The term is commonly used in the banking and financial sectors to describe areas where regulations are different from the home country. Offshore locations are generally island nations, where entities set up corporations, investments, and deposits.
Detailed explanation-3: -Antigua & Barbuda: Antigua and Barbuda (“Antigua”) is located in the Northeast Caribbean Sea. Bahamas: Belize: British Virgin Islands: Cayman Islands: Dubai: Gibraltar: Guernsey: