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International Monetary Fund. External Relations Dept.

Abstract

Annual Report on Exchange Arrangements and Exchange Restrictions 1950

International Monetary Fund. External Relations Dept.

Abstract

Annual Report on Exchange Arrangements and Exchange Restrictions 1956

International Monetary Fund. External Relations Dept.

Abstract

Annual Report on Exchange Arrangements and Exchange Restrictions 1957

International Monetary Fund. External Relations Dept.

Abstract

This paper analyses relatively little overall progress in the formal relaxation of restrictions. Certainly, progress in this respect was much less than in the immediately preceding years. On the other hand, there was a significant strengthening of most internationally traded currencies, particularly in the opening months of 1958. The rates in free markets began to approximate the rates in official markets. In this respect, there was continued progress toward what is commonly called external convertibility, although the present position still falls short of formal external convertibility. In some countries, restrictions were relaxed to only a limited extent, partly because earlier relaxations had left only restrictions of a protective nature and partly because of the more complex nature of the economic trends which characterized the period. In the light of these trends and, more particularly, of the currency speculation which arose during the middle of the period, it is notable that most countries were able to defend the progress toward freer trade and payments which had been made earlier.

International Monetary Fund. External Relations Dept.

Abstract

This paper focuses on progress in reducing or eliminating exchange restrictions that has been substantial and has been made on a wide front; retrogressions have been comparatively few. The beneficial effects of the widening scope of currency convertibility have been felt in many areas, and the evolution toward freer, more orderly, and less discriminatory trade and payments has been strongly supported by a high level of economic activity, expanding international trade, and the general maintenance of monetary stability. Recent developments in trade and payments have not merely reduced the scope of restrictions; they have also changed the nature of these restrictions. Of key importance was the introduction of external convertibility by several countries at the end of 1958. Quotations for externally convertible currencies in exchange markets throughout the world have shown only minor fluctuations in the past twelve months. Most Western European currencies have generally been strong in terms of the US dollar.

International Monetary Fund. External Relations Dept.

Abstract

Annual Report on Exchange Arrangements and Exchange Restrictions 1972

International Monetary Fund. External Relations Dept.

Abstract

This paper highlights the exchange rate for the pound sterling soon after it began to float, moved within a relatively narrow range in relation to other major currencies and unrest in the exchange markets moderated. In some countries, such as Australia and Spain, where outward capital movements were still subject to considerable restrictions, these were relaxed to various extents. In a number of primary producing as well as industrial countries, the control of inward capital movements was motivated not by their immediate balance of payments impact but by concern over the extent of foreign ownership of certain sectors of the economy. Contrary to expectations, the monetary unrest remained and capital movements increased. After moderating somewhat in the second half of 1972, late in the period gold prices started to rise again, and they reached new peaks in early 1973. Guatemala, Hong Kong, and Kuwait abolished exchange control. Germany, invoking Article 23 of the Foreign Trade and Payments Law, restricted additional types of capital transactions between residents and nonresidents in order to ward off capital inflows.

International Monetary Fund. External Relations Dept.

Abstract

This paper discusses that although in terms of value world trade increased at a sharp rate, the rise was in only a small degree due to an expansion in the volume of trade. Because of the inflation and the sharp increase in the prices of oil and some other primary products, the value of world trade, rose by some 45 percent or nearly double the rate of growth in 1973. As a result of a steep upward movement of commodity prices in 1973, the terms of trade of the developing countries and other primary producing countries had improved substantially in that year, while those of the industrial countries had been unfavorably affected. In 1974, a tendency toward reversal of these shifts in terms of trade, together with the increase in the price of oil, resulted in a considerable deterioration in the terms of trade of the non-oil producing developing countries and of other primary producing countries. Reduced rates of increase in export volumes also affected the international payments positions of these two groups of countries in 1974.

International Monetary Fund. Monetary and Capital Markets Department

Abstract

This 2003 Annual Report on Exchange Arrangements and Exchange Restrictions provides a detailed description of the exchange arrangements and exchange/trade restrictions of individual IMF member countries and Hong Kong Special Administrative Region, as well as Aruba and the Netherlands Antilles. The report highlights that Bangladesh Bank announces a buying–selling rate band for the U.S. dollar against the taka for its transactions with authorized dealer banks. Trends of the real effective exchange rate of the taka against a trade-weighted basket of currencies of major trade partners are analyzed to monitor the external competitiveness of the exchange rate.

International Monetary Fund. Monetary and Capital Markets Department

Abstract

This 2004 Annual Report on Exchange Arrangements and Exchange Restrictions provides a detailed description of the exchange arrangements and exchange/trade restrictions of individual IMF member countries and Hong Kong Special Administrative Region, as well as Aruba and the Netherlands Antilles. The report highlights that the exchange rate of the kuna is determined in the foreign exchange market. The Croatian National Bank may set intervention exchange rates, which it applies in transactions with banks outside the interbank market to smooth undue fluctuations in the exchange rate.