defining and implementing monetary policy. conducting foreign exchange operations. holding and managing the euro area's foreign currency reserves. promoting the smooth operation of payment systems.
<h3>What is
foreign currency reserves?</h3>
Foreign Exchange Reserves are cash and other reserve assets, such as gold, held by a central bank or other monetary authority and used primarily to balance a country's accounts, influence the foreign exchange rate of its currency, and maintain financial market confidence.
Foreign exchange reserves are a country's emergency funds in the event of an emergency, such as a rapid depreciation of its currency. Countries use foreign currency reserves to maintain a fixed rate of value, maintain competitively priced exports, remain liquid in the event of a crisis, and provide investors with confidence.
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Answer:
$279,200
Explanation:
The computation of working capital is shown below:-
As we know that
Working capital = Current assets - Current liabilities
where,
Current assets = cash balance + account receivable + Inventory
= $129,200 + $122,600 + $209,300
= $461,100
And,
Current liabilities = Account payable + Salaries & wages payable
= $153,500 + $28,400
= $181,900
now we will put the values of the above working capital formula
= $461,100 - $181,900
= $279,200
Answer:
Detailed step wise solution is given below: