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Can bank convert foreign currency to home currency without customer's approval?

If a customer receives a bank transfer in a foreign currency to his/her account it is standard practice to convert it into the currency of the account.


Who guarantees the currency in circulation?

The government guarantees the currency in circulation.


What factors create a foreign exchange gain on a foreign currency transaction?

An appreciation in a foreign currency creates a foreign exchange gain when the foreign currency is to be received. A decrease in the value of foreign currency creates a foreign exchange gain when the foreign currency is to be paid. (Hoyle, Schaefer, Doupnik, 2009, pp. 328)


When did Mozambique's currency come into circulation?

When did the currencies of Mozambique first come in circulation


What do you mean by currency in circulation?

Currency in circulation is reffering to the money being used currently. The money you give to and get from anywhere is "circulated" currency


What determines the foreign currency value against Indian currency?

The foreign currency against domestic currency is the buying and selling


What is a foreign currency?

A currency from a country in which you don't reside. For instance, to an American, a peso would be considered foreign currency. To a Mexican, a penny would be considered foreign currency.


What is the currency and foreign exchange code of Bolivia?

The currency in Bolivia is Boliviano and the foreign exchange code of the currency is BOB.


What is the definition of foreign currency?

foreign currency just refers to the money used in other countries. For instance, in America, Chinese money is foreign currency.


Can you still exchange foreign currency that is uncirculated?

we can exchange foreign currency of leats of banks


IS it illegal to take US Currency out of circulation?

Coin collectors take currency out of circulation all the time. It's perfectly legal to do.


When did trading begin in foreign currency futures?

In 1972 it launched a contract in foreign currency futures.