13. Fill in the blanks with the Vocabulary on the text.

1. Money is an ... in financial operations.

2. Currency relations in the world economy are regulated by ... ... .

3. The term “currency” is used as ... ... of a country and ... ... and credit.

4. Currency as ... ... is used by all the countries of the world.

5. ... ... ... represent a part of the world financial market.

6. The dependence of demand and supply of currency on its price is called ... ... ... .

7. The official currency of the United Kingdom is ... ... which is subdivided into 100 ... .

8. The official currency of the United States of America is ... which is equal to 100 ... .

Prompts: foreign exchange markets, a unit of account, dollar, intermediary, a legal medium of exchange, pence, currency rate of exchange, the pound sterling, currency system, cents, a medium of payments.

14. Find in the text definitions of:

currency, rate of exchange, currency system.

15. Read the sentences from the text, underline the verbs and state their tense forms.

1. Relations between economies of different states are performed by trade and financial operations.

2. There exist currency relations in the world economy.

3. All the countries of the world use national currency as a legal medium of exchange.

4. Currency exchanges are carried out at foreign exchange market.

5. The demand and supply of currency depend on its price.

6. Currency price is called currency rate of exchange and is expressed in monetary units of the other country.

7. English banknotes and coins are issued and minted by the Bank of England.

8. The backs of English banknotes feature portraits of different famous people.

16. Insert the proper form of the verb to be. Use the Present Indefinite Tense.

1. Money … an intermediary in financial operations.

2. Currency system … a system which shows currency functioning in an open economy.

3. All national currencies of the world … legal medium of payment and exchange.

4. Foreign exchange markets … a part of the world financial market.

5. The pound sterling … the official currency of the UK.

6. Portraits of different famous persons … on the back of many banknotes.

7. One American dollar … equal to 100 cents.

8. The words In God We Trust … on all the USA banknotes.

17. Translate the following sentences from the text into Russian. Pay attention to the word one.

1. On the face of English banknotes one can read the denomination given both in figures and in words.

2. On the back of the ten pound note one can see Florence Nightingale.

3. On the face of American dollars one can see the portraits of famous persons.

18. Translate the following sentences into Russian. Pay attention to the word one.

1. To get higher profits one should invest more money into production.

2. One can distinguish two ways of income earning: from work and from use of wealth.

3. One can receive salary on a weekly or monthly basis.

4. Working in a retail firm one needn’t sell goods in bulk.

5. One should exchange national currency for foreign banknotes while going abroad.

6. One must consider interest and rent as two forms of income.

7. One mustn’t make economic choices only according to tastes and preferences.

8. During domestic economic crisis one can better save incomes in foreign currency.