WEIGHTED-AVERAGE EXCHANGE RATE
The mean or average exchange rate used in translating income and expense accounts at the end of an accounting period, this rate takes into account the relative change of exchange rates during the period and adjusts the consolidated statement with this weighted-average rate.
WHOLESALE BANKING
Banking services provided between merchant banks and other financial institutions. WON
South Korea’s currency.
WORLD BANK
The World Bank (www.worldbank.org) is an integrated group of international institutions which provides financial and technical assistance to developing countries. The World Bank includes the International Bank for Reconstruction and Development and the International Development Association. World Bank affiliates, legally and financially separate, include the International Center for Settlement of Investment Disputes, the International Finance Corporation, and the Multilateral Investment Guarantee Agency. World Bank headquarters are in Washington, D.C.
WRITER
Also called a grantor, an individual who sells an option
