Welcome to the 1520 Perfect Dictionary
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| Exchange control | |
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| EXCHANGE CONTROL Definition: Control by a country of the exchange of its money against foreign money, with the ability to devalue or revalue when necessary, in the interest of stable international trade. It can limit the amounts made available for buying imports, for foreign travel or emigration, for foreign investments, etc. and can claim foreign money earned, giving domestic currency in return, as a safeguard against speculative money moving from between countries for quick profits. ______________________________________________________________________ * All nine elements should be in. 1. Purposeful and necessary for country's economic development. 2. The controls are codified and enforced timely and effectively. 3. Intervention, if unavoidable, will be decided by professionals. 4. The regulatory institutions would be observing best practices. 5. Funding level of currency supply will be adequate at all times. 6. The sources of supply of foreign money are reliable, dependable. 7. Local currency will be of value/worth to be accepted in return. 8. Achieves goal(s) for nation's economy - growth, stability, etc. 9. Won't result in inflation, capital flight, etc. (to emphasize). ____________________________ See perfect CENTRAL BANK. See perfect EXCHANGE RATE (2). See perfect ECONOMIC GROWTH (2). See perfect CORPORATE GOVERNANCE. | |
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