Paf is a small country Its currency is the pif #4550

Paf is a small country. Its currency is the pif, and the exchange rate with the United States dollar
is 0.9 pifs per dollar. Following are some of the transactions affecting Paf s balance of payments
during the quarter:? Paf exports 10 million pifs of local products.? Paf investors buy foreign
companies for a total cost of $3 million.? Paf investors receive $0.1 million of dividends on their
foreign shares.? Many tourists visit Paf and spend $0.5 million.? Paf pays 1 million pifs as
interest on Paf bonds currently held by foreigners.? Paf imports $7 million of foreign goods.? Paf
receives $0.3 million as foreign aid.Illustrate how the preceding transactions would affect Paf's
balance of payments for the quarter, including the current account, the financial account, and
the official reserves accountView Solution:
Paf is a small country Its currency is the pif

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