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The article states that in some countries the use of letters of credit has been rendered (de facto) mandatory in foreign trade transactions. The underlying
The article states that in some countries the use of letters of credit has been rendered (de facto) mandatory in foreign trade transactions. The underlying rationale is to better control the outflux of foreign currency and implement AML (Anti-Money Laundering ) regulations. Why would countries, and their central banks, care out the outflux of foreign currency?
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