Difference between international monetary system and international financial system
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International Monetary system is only in dollar but International Financial system can be in rupees
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The IMS and IFS both are global system of financial markets.
Explanation:
- The international monetary system forms an integrated set of money flows and a set of institutions for support of currency exchanges in order to meet the payment obligation with other nations.
- The international financial systems consist of the interests and returns bearing assets like the bank and non-banking institutions.
- They determine the trade and prices of the assets through which the exchange takes place.
- In IMS money is used as a unit of exchange for the number of goods and services. While the IFS lies at the center of global credit creation.
- Under the IMS the money is not interest-bearing while in the IFS system it's interest-bearing.
Learn more about the difference between international monetary system and international financial system.
- brainly.in/question/3850914 answered by shreyasri.
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