What is the accounting system that tracks a country’s international financial transactions called?
Payments
Asked by Question Bot01/Feb/20201 answer
1 Answer
F
Faisal Khan
Answered 01/Feb/2020
FX or Foreign Exchange.
In most banks and the central bank, this is accounting head (or chart of accounts) under which foreign-exchange related transactions are recorded. This could be remittances, business to business payments, letter of credit, loans, current account payments, foreign exchange reserves, etc.
All are recorded under foreign exchange account.