Foreign exchange controls

Foreign exchange controls

Foreign exchange controls are various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents or on the purchase/sale of local currency by nonresidents.

Common foreign exchange controls include:

  • Banning the use of foreign currency within the country
  • Banning locals from possessing foreign currency
  • Restricting currency exchange to government-approved exchangers
  • Fixed exchange rates
  • Restrictions on the amount of currency that may be imported or exported

Countries with foreign exchange controls are also known as "Article 14 countries," after the provision in the International Monetary Fund agreement allowing exchange controls for transitional economies. Such controls used to be common in most countries, particularly poorer ones, until the 1990s when free trade and globalization started a trend towards economic liberalization. Today, countries which still impose exchange controls are the exception rather than the rule.

Current countries with foreign exchange controls

(list very incomplete)

See also

References

  1. ^ [1]
  2. ^ Nélio Weiss and Philippe Jeffrey (April, 2005). "Brazil: Brazil simplifies foreign exchange controls". International Tax Review PricewaterhouseCoopers. http://www.internationaltaxreview.com/?Page=10&PUBID=35&ISS=14052&SID=494386&TYPE=20. Retrieved 2009-12-29. 
  3. ^ "Chapter 6 Foreign Exchange Controls". Taseer Hadi Khalid & Co, the Pakistan member firm of KPMG International, a Swiss cooperative. 2004. http://www.kpmg.com.pk/download/Investments/Chapter%206%20-%20Foreign%20Exchange%20Controls.pdf. Retrieved 2009-12-29. [dead link]
  4. ^ [2]
  5. ^ [3]

Wikimedia Foundation. 2010.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • Foreign exchange controls — Various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents or on the purchase/sale of local currency by nonresidents. The New York Times Financial Glossary …   Financial and business terms

  • foreign exchange controls — Various forms of controls imposed by a government on the purchase/ sale of foreign currencies by residents or on the purchase/sale of local currency by nonresidents. Bloomberg Financial Dictionary …   Financial and business terms

  • Foreign exchange market — Forex redirects here. For the football club, see FC Forex Braşov. Foreign exchange Exchange rates Currency band Exchange rate Exchange rate regime Exchange rate flexibility Dollarization Fixed exchange rate Floating exchange rate Linked exchange… …   Wikipedia

  • foreign exchange — currency of another country. Abbreviated forex. Bloomberg Financial Dictionary foreign exchange ( FX) An over the counter market where buyers and sellers conduct foreign exchange transactions. Also called foreign exchange market. GU=Give up Trade …   Financial and business terms

  • Foreign exchange — Currency from another country. The New York Times Financial Glossary * * * foreign exchange foreign exchange ➔ exchange1 * * *    Instruments used to make payments between countries.    ► See FX. * * * foreign exchange UK US noun (ABBREVIA …   Financial and business terms

  • Exchange controls — Governmental restrictions on the purchase of foreign currencies by domestic citizens or on the purchase of the local domestic currency by foreigners. The New York Times Financial Glossary * * *    Regulations to prevent or restrict certain… …   Financial and business terms

  • exchange controls — Government restrictions on the purchase of foreign currencies by domestic citizens or on the purchase of the local domestic currency by foreigners. Bloomberg Financial Dictionary * * *    Regulations to prevent or restrict certain foreign… …   Financial and business terms

  • foreign-exchange market — An international market in which foreign currencies are traded. It consists primarily of foreign exchange dealers employed by commercial banks (acting as principals) and foreign exchange brokers (acting as intermediaries). Although tight exchange …   Big dictionary of business and management

  • Foreign exchange certificate — A foreign exchange certificate, sometimes abbreviated to FEC, is a type of currency. Foreign exchange certificates are sometimes used by governments as a surrogate for a national currency, were the national currency is usually subject to exchange …   Wikipedia

  • exchange controls — /ɪks tʃeɪndʒ kənˌtrəυlz/ plural noun government restrictions on changing the local currency into foreign currency ● The government has imposed exchange controls. ● They say the government is going to lift exchange controls …   Marketing dictionary in english

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”