What is meant by balance of payment (BOP)

What is meant by balance of payment (BOP)

Balance of payment define by Kindler Berger
“ The balance of payment is the systematic record of all economic transactions between the residents of the reporting country and the residents of the foreign countries during a given period of time”-Kindler Berger.

 

Balance of payment define by Prof. Brainerd
“ The balance of payment is comprehensive record of l economic transactions of the residents of a country with the rest of the work during a given period of time”-Prof. Brainerd.

Balance of payment define by Dictionary Banking & Finance.
“The balance of payment is in the international finance – the difference between all visible and invisible trade payment made by a nation to foreign creditors and visible and invisible item paid by foreign debtors and creditors a stated period of time”-Dictionary Banking & Finance.

What is meant by balance of payment (BOP)

Balance of payment define by Gustav Cassel
“The balance of payment is the rate of exchange is the ratio at which domestic currency can be exchanged against foreign currency”-Gustav Cassel.

Balance of payment define by Prof. R.M. Stren
“The balance of payment is a foreign exchange rate is measured typically as the number of units of a given currency that exchange for a unit of some other currency”-Prof. R.M. Stren.

Balance of payment define by A banking Expert
“The balance of payment is the rate of exchange is the price of one currency expressed in terms of another currency. The rate at which an exchange dealer would buy or sell foreign exchange in terms of the domestic currency is known as the rate of exchange ”-A banking Expert.

What is meant by balance of payment (BOP)

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