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In 2010, there were a total of 160 banks that went into receivership, were merged with another banking definition pdf, or closed their doors entirely.
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As an example: A Japanese company based in Singapore pay their overheads/salaries in Singapore Dollars. They also receive revenues in Singapore dollar bills. At the close of the monetary year, the company would repatriate money to Japan (which would mean converting Singapore dollars to Yen).
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