exchange controls

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Exchange controls

Government restrictions on the purchase of foreign currencies by domestic citizens or on the purchase of the local domestic currency by foreigners.

Exchange Controls

Laws or regulations that a government may institute limiting foreign exchange of its currency. A government may enact exchange controls on one currency (that is, a government may say that its currency is not convertible into Zimbabwean dollars, for example), or it may enact exchange controls over all currencies. Some countries have exchange controls to prevent citizens from making bad investment decisions in, say, a country experiencing hyperinflation, while a few communist countries enact exchange controls to prevent capitalist influences. See also: Inconvertibility.

exchange controls


exchange controls

References in periodicals archive ?
Governor Maiava Atalina Ainu'u-Enari, said, 'After consultations with commercial banks and money transfer operators, the Central Bank of Samoa wishes to inform the public that, effective from 3rd March 2014, the prevailing exchange control requirements have been revised.
Prime minister, Ranil Wickremesinghe, said the exchange control act would be reformed into an 'exchange management act.
As the new Assistant Governor of the CBSL, Karunaratne will supervise the International Operations, Exchange Control and Finance Departments of the Sri Lankan Central Bank.
was exchange control approval from the Bank of Namibia for transactions
Trevor Manuel, has informed Gold Fields Limited (JSE:GFI and NASDAQ:GOLD) that exchange control approval for the previously announced merger of the companies, as structured and presented, has been denied.
Mahathir has often boasted his "tried and tested" party managed to survive the worst recession in the country's history, largely because of the controversial exchange control measures.
By contrast to the extensive microdetail of exchange control legislation, economic data characterizing the impact on flows of capital of the removal of exchange controls is both highly aggregated and difficult to obtain, and the measure reported in Table I is far from perfect.
Twenty years ago, when even advanced countries were suffering from double-digit inflation, when intrusive foreign exchange control was a source of major economic distortions and wide-spread corruption, to preach the virtues of price stability and currency convertibility was clearly to move the world in the right direction.
The resurrection of the exchange control debate has added a new twist to Asia's financial crisis, with long-term fears being held for the Malaysian economy following Prime Minister Mahathir Mohamed's decision to impose capital controls.
Strengthened by the April 1, 1994, regulation on foreign exchange, the State Administration of Exchange Control oversees foreign-exchange policies.
Trevor Manuel, has informed the company that exchange control approval for the previously announced conditional merger of Gold Fields with Canadian Franco-Nevada Mining Corporation, as structured and presented, has been declined.
Ali attributed the growth to the controversial capital and exchange control measures put in place by the government last September.

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