Practicing Success
Unilateral transfers are "one-way" transaction. These includes donations, gifts, remittances etc. In which side of the BoP account will the receipt of gifts and donations be recorded? |
Credit side Debit side It will not be recorded Depends on what gift and donations have been received |
Credit side |
Anything which increases the inflow of the foreign currency into the country is recorded in the Credit side of the Balance of Payment account, be it bilateral or unilateral transaction. |