Write a short note on balance of payments
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The balance of payments (BOP) is the record of all international financial transactions made by the residents of a country. There are three main categories of BOP: the current account, the capital account, and the financial account
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Balance of payments. The balance of payments (also known as balance of international payments and abbreviated B.O.P. or BoP) of a country is the difference between all money flowing into the country in a particular period of time (e.g., a quarter or a year) and the outflow of money to the rest of the world.
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