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单词 payments union
释义 payments union

An arrangement by two or more countries to pool their foreign exchange reserves. The advantage of this is that it reduces the total reserves they need to hold, and sets them free to trade with one another without worrying about the effects on their reserves. The disadvantage is that they need to entrust their monetary policy to a combined central bank, or to agree on co-ordinated monetary policies. Unless this is done, a payments union is liable to find its combined reserves run down by the most extravagent member.

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更新时间:2025/1/22 13:26:59