Chapter

Summary Features of Exchange and Trade Systems in Member Countries

Author(s):
International Monetary Fund. External Relations Dept.
Published Date:
September 1982
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Summary Features of Exchange and Trade Systems in Member Countries1

(as at date of country pages)2

AfghanistanAlgeriaAntigua and Barbuda3ArgentinaAustraliaAustriaBahamasBahrainBangladeshBarbadosBelgium-LuxembourgBelize3BeninBhutanBoliviaBotswanaBrazilBurmaBurundiCameroonCanadaCape VerdeCentral African Rep.Chad
A. Acceptance of Article Status
1. Article VIII
2. Article XIV
B. Exchange Arrangement
1. Exchange rate maintained within relatively narrow margins4 in terms of:
(a) U.S. dollar
(b) pound sterling
(c) French franc
(d) South African rand, Spanish peseta, or Indian rupee
(e) a cooperative exchange arrangement (under mutual intervention system)
(f) a composite of currencies

(g) a set of indicators
2. Exchange rate not maintained within relatively narrow margins4 as in (a)-(f) above, or otherwise determined (see country pages)
3. Separate exchange rates for some or all capital transactions and/or some or all invisibles
4. Import rate(s) different from export rate(s)
5. More than one rate for imports
6. More than one rate for exports
C. Prescription of Currency
D. Bilateral Payments Arrangements
1. with members
2. with nonmembers
E. Payments Restrictions
1. Restrictions on payments for current transactions5
2. Restrictions on payments for capital transactions5,6
F. Cost-Related Import Restrictions
1. Import surcharges
2. Advance import deposits
G. Surrender Requirement for Export Proceeds
Key and Footnotes

indicates that the specified practice is a feature of the exchange and trade system.

indicates that the specified practice is not a feature of the system.

indicates that the composite is the SDR.

The list includes two nonmetropolitan territories (Hong Kong and the Netherlands Antilles) for which the respective members have accepted the Fund’s Articles of Agreement. Exchange practices indicated in individual countries do not necessarily apply to all external transactions.

December 31, 1981.

Country has not notified the Fund on the acceptance of either Article VIII or Article XIV.

Margins of approximately 2.25 per cent on either side of parity. It should be noted that existence of a separate rate does not necessarily imply a multiple currency practice under Fund jurisdiction.

Restrictions (i.e., official action directly affecting the availability or cost of exchange, or involving undue delay) on payments to member countries, other than restrictions imposed for security reasons under Executive Board Decision No. 144-(52/51), adopted August 14, 1952.

Resident-owned funds.

ChileChina, People’s Rep. ofColombiaComorosCongoCosta RicaCyprusDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEthiopiaFijiFinlandFranceGabonThe GambiaGermany, Fed. Rep. ofGhanaGreeceGrenadaGuatemalaGuineaGuinea-BissauGuyanaHaitiHondurasHong KongHungaryIceland




;
Key and Footnotes

indicates that the specified practice is a feature of the exchange and trade system.

indicates that the specified practice is not a feature of the system.

indicates that the composite is the SDR.

The list includes two nonmetropolitan territories (Hong Kong and the Netherlands Antilles) for which the respective members have accepted the Fund’s Articles of Agreement. Exchange practices indicated in individual countries do not necessarily apply to all external transactions.

December 31, 1981.

Country has not notified the Fund on the acceptance of either Article VIII or Article XIV.

Margins of approximately 2.25 per cent on either side of parity. It should be noted that existence of a separate rate does not necessarily imply a multiple currency practice under Fund jurisdiction.

Restrictions (i.e., official action directly affecting the availability or cost of exchange, or involving undue delay) on payments to member countries, other than restrictions imposed for security reasons under Executive Board Decision No. 144-(52/51), adopted August 14, 1952.

Resident-owned funds.

IndiaIndonesiaIranIraqIrelandIsraelItalyIvory CoastJamaicaJapanJordanKenyaKoreaKuwaitLao People’s Dem. Rep.LebanonLesothoLiberiaLibyan Arab JamahiriyaMadagascarMalawiMalaysiaMaldivesMali
A. Acceptance of Article Status
1. Article VIII
2. Article XIV
B. Exchange Arrangement
1. Exchange rate maintained within relatively narrow margins4 in terms of:
(a) U.S. dollar
(b) pound sterling
(c) French franc
(d) South African rand, Spanish peseta, or Indian rupee
(e) a cooperative exchange arrangement (under mutual intervention system)
(f) a composite of currencies







(g) a set of indicators
2. Exchange rate not maintained within relatively narrow margins4 as in (a)–(g) above, or otherwise determined (see country pages)
3. Separate exchange rates for some or all capital transactions and/or some or all invisibles
4. Import rate(s) different from export rate(s)
5. More than one rate for imports
6. More than one rate for exports
C. Prescription of Currency
D. Bilateral Payments Arrangements
1. with members
2. with nonmembers
E. Payments Restrictions
1. Restrictions on payments for current transactions6
2. Restrictions on payments for capital transactions5,6
F. Cost-Related Import Restrictions
1. Import surcharges
2. Advance import deposits
G. Surrender Requirement for Export Proceeds
Key and Footnotes

indicates that the specified practice is a feature of the exchange and trade system.

indicates that the specified practice is not a feature of the system.

indicates that the composite is the SDR.

The list includes two nonmetropolitan territories (Hong Kong and the Netherlands Antilles) for which the respective members have accepted the Fund’s Articles of Agreement. Exchange practices indicated in individual countries do not necessarily apply to all external transactions.

December 31, 1981.

Country has not notified the Fund on the acceptance of either Article VIII or Article XIV.

Margins of approximately 2.25 per cent on either side of parity. It should be noted that existence of a separate rate does not necessarily imply a multiple currency practice under Fund jurisdiction.

Restrictions (i.e., official action directly affecting the availability or cost of exchange, or involving undue delay) on payments to member countries, other than restrictions imposed for security reasons under Executive Board Decision No. 144-(52/51), adopted August 14, 1952.

Resident-owned funds.

MaltaMauritaniaMauritiusMexicoMoroccoNepalNetherlandsNetherlands AntillesNew ZealandNicaraguaNigerNigeriaNorwayOmanPakistanPanamaPapua New GuineaParaguayPeruPhilippinesPortugalQatarRomaniaRwandaSt. LuciaSt. Vincent and GrenadinesSão Tomé and PrincipeSaudi ArabiaSenegalSeychellesSierra LeoneSingaporeSolomon IslandsSomalia








Key and Footnotes

indicates that the specified practice is a feature of the exchange and trade system.

indicates that the specified practice is not a feature of the system.

indicates that the composite is the SDR.

The list includes two nonmetropolitan territories (Hong Kong and the Netherlands Antilles) for which the respective members have accepted the Fund’s Articles of Agreement. Exchange practices indicated in individual countries do not necessarily apply to all external transactions.

December 31, 1981.

Country has not notified the Fund on the acceptance of either Article VIII or Article XIV.

Margins of approximately 2.25 per cent on either side of parity. It should be noted that existence of a separate rate does not necessarily imply a multiple currency practice under Fund jurisdiction.

Restrictions (i.e., official action directly affecting the availability or cost of exchange, or involving undue delay) on payments to member countries, other than restrictions imposed for security reasons under Executive Board Decision No. 144-(52/51), adopted August 14, 1952.

Resident-owned funds.

South AfricaSpainSri LankaSudanSurinameSwazilandSwedenSyrian Arab Rep.TanzaniaThailandTogoTrinidad and TobagoTunisiaTurkeyUgandaUnited Arab EmiratesUnited KingdomUnited StatesUpper VoltaUruguayVanuatu3VenezuelaViet NamWestern Samoa
A. Acceptance of Article Status
1. Article VIII
2. Article XIV
B. Exchange Arrangement
1. Exchange rate maintained within relatively narrow margins4 in terms of:
(a) U.S. dollar
(b) pound sterling
(c) French franc
(d) South African rand, Spanish peseta, or Indian rupee
(e) a cooperative exchange arrangement (under mutual intervention system)
(f) a composite of currencies
(g) a set of indicators
2. Exchange rate not maintained within relatively narrow margins’4 as in (a)–(g) above, or otherwise determined (see country pages)
3. Separate exchange rates for some or all capital transactions and/or some or all invisibles
4. Import rate(s) different from export rate(s)
5. More than one rate for imports
6. More than one rate for exports
C. Prescription of Currency
D. Bilateral Payments Arrangements
1. with members
2. with nonmembers
E. Payments Restrictions
1. Restrictions on payments for current transactions6
2. Restrictions on payments for capital transactions5,6
F. Cost-Related Import Restrictions
1. Import surcharges
2. Advance import deposits
G. Surrender Requirement for Export Proceeds
Key and Footnotes

indicates that the specified practice is a feature of the exchange and trade system.

indicates that the specified practice is not a feature of the system.

indicates that the composite is the SDR.

The list includes two nonmetropolitan territories (Hong Kong and the Netherlands Antilles) for which the respective members have accepted the Fund’s Articles of Agreement. Exchange practices indicated in individual countries do not necessarily apply to all external transactions.

December 31, 1981.

Country has not notified the Fund on the acceptance of either Article VIII or Article XIV.

Margins of approximately 2.25 per cent on either side of parity. It should be noted that existence of a separate rate does not necessarily imply a multiple currency practice under Fund jurisdiction.

Restrictions (i.e., official action directly affecting the availability or cost of exchange, or involving undue delay) on payments to member countries, other than restrictions imposed for security reasons under Executive Board Decision No. 144-(52/51), adopted August 14, 1952.

Resident-owned funds.

Yemen Arab Rep.Yemen Peop. Dem. Rep.YugoslaviaZaïreZambiaZimbabwe




Key and Footnotes

indicates that the specified practice is a feature of the exchange and trade system.

indicates that the specified practice is not a feature of the system.

indicates that the composite is the SDR.

The list includes two nonmetropolitan territories (Hong Kong and the Netherlands Antilles) for which the respective members have accepted the Fund’s Articles of Agreement. Exchange practices indicated in individual countries do not necessarily apply to all external transactions.

December 31, 1981.

Country has not notified the Fund on the acceptance of either Article VIII or Article XIV.

Margins of approximately 2.25 per cent on either side of parity. It should be noted that existence of a separate rate does not necessarily imply a multiple currency practice under Fund jurisdiction.

Restrictions (i.e., official action directly affecting the availability or cost of exchange, or involving undue delay) on payments to member countries, other than restrictions imposed for security reasons under Executive Board Decision No. 144-(52/51), adopted August 14, 1952.

Resident-owned funds.

Key and Footnotes

indicates that the specified practice is a feature of the exchange and trade system.

indicates that the specified practice is not a feature of the system.

indicates that the composite is the SDR.

The list includes two nonmetropolitan territories (Hong Kong and the Netherlands Antilles) for which the respective members have accepted the Fund’s Articles of Agreement. Exchange practices indicated in individual countries do not necessarily apply to all external transactions.

December 31, 1981.

Country has not notified the Fund on the acceptance of either Article VIII or Article XIV.

Margins of approximately 2.25 per cent on either side of parity. It should be noted that existence of a separate rate does not necessarily imply a multiple currency practice under Fund jurisdiction.

Restrictions (i.e., official action directly affecting the availability or cost of exchange, or involving undue delay) on payments to member countries, other than restrictions imposed for security reasons under Executive Board Decision No. 144-(52/51), adopted August 14, 1952.

Resident-owned funds.

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