An account maintained with a commercial bank for the purpose of foreign exchange transaction is…

Commerce JAMB 2008

An account maintained with a commercial bank for the purpose of foreign exchange transaction is the?

  • foreign account
  • international account
  • domiciliary account checkmark
  • foreign reserves account

The correct answer is: C

Explanation

A domiciliary account is a special kind of bank account that allows you to receive and make payments in foreign currencies.

Previous Question Next Question

Leave A Comment