The bill of exchange

by Cristina Nuta - A bill of exchange, also called draft, is defined as an unconditional order in writing, addressed by one person (the drawer) to another (the drawee) and signed by the person giving it, requiring the person to whom it is addressed to pay on presentation, or at a fixed or determinable future time, a specified sum of money, to the order of a specified person (the payee) or to be ...

Date added: 03 August '07

Exchange Rates

by Cristina Nuta - By exchange rates we mean the value of a country's currency expressed in terms of another country's currency. The exchange rates are sometimes fixed or pegged, that is determined by a country’s monetary authority- the central bank- but, in a market economy, they are established like any other price by the interaction of supply and demand that means they are floating rates. Bu ...

Date added: 21 November '07