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 ?
Will the exchange control measures be effective in Malaysia?
But the government's watchful eye - manifested through the proposal and approval process, exchange controls and a cultural belief that 10 percent to 15 percent is a fair rate of return - may dampen those expectations.
The investors and the business public are encouraged to fully satisfy the information requirements on their initial submissions to the Exchange Control Department, in order for their applications to be promptly processed.
Those countries which were crisis-hit and did not adopt exchange controls were all helped by the IMF (International Monetary Fund), but in our case the selective exchange control system enabled us to concentrate and use our own domestic resources to push demand.
To enable broader application of state-of-the-art technologies, the NBU has extended the list of documents to include e-documents to be submitted to the NBU and used for the purposes of information sharing with public authorities responsible for foreign exchange control.
His store, Ciclos Segura, is nearly empty of new bicycles, and the government's currency exchange controls mean he has little chance of obtaining more of the expensive, imported cycles he sells.
The contract is the reconstruction of the existing WWTP Sand blower room and exchange control system.
Prime minister, Ranil Wickremesinghe, said the exchange control act would be reformed into an 'exchange management act.
In a move to stem short-term "hot money" speculators whom Mahathir has blamed for derailing Malaysia's currency and overall economy, the country imposed various capital and exchange control measures last Sept.
The central bank's action will see dividends, land sale income, insurance payments, management fees and airline ticket payments over USD425,800 coming under exchange control laws.
Mohamed Ariff also expressed concern that there will be a large outflow of capital from the country in September 1999, the result of the 12-month holding requirement under exchange control measures.
For us the selected exchange control measures do not -- and I would like to emphasize -- do not impinge upon any of the rights of direct foreign investors in these areas,'' she told a press conference at the end of the annual ASEAN trade ministers meeting.

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