Balance of Payments
The balance of payments (BOP) is a statement of all transactions made between entities in one country and the rest of the world over a defined period of time, such as a quarter or a year. These transactions are made by individuals, firms and government bodies and record the value of the country's transactions in goods, services, primary and secondary income. Balance Of payments also records changes in a country's financial claims on assets, and liabilities to the rest of the world.
Balance of payments provides detailed information concerning the demand and supply of a country's currency.