EXCHANGE CONTROL


Meaning of EXCHANGE CONTROL in English

Governmental restrictions on private transactions in foreign money or claims on foreign money.

Residents are required to sell foreign money coming into their possession to a central bank or specialized government agency at exchange rate s set by the government. The chief function of most systems of exchange control is to maintain a favourable balance of payments . See also foreign exchange .

Britannica English dictionary.      Английский словарь Британика.