Chapter

Summary Features of Exchange and Trade Systems in Member Countries

Author(s):
International Monetary Fund. External Relations Dept.
Published Date:
September 1984
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Summary Features of Exchange and Trade Systems in Member Countries1

(as of date shown on first country page)2

AfghanistanAlgeriaAntigua and BarbudaArgentinaAustraliaAustriaBahamasBahrainBangladeshBarbadosBelgium and LuxembourgBelizeBeninBhutanBoliviaBotswanaBrazilBurmaBurundiCameroonCanadaCape VerdeCentral African Rep.Chad
A. Acceptance of Article Status
1. Article VIII status
2. Article XIV status
B. Exchange Arrangement3
1. Exchange rate determined on the basis of:
(a) A peg to:
(i) the U.S. dollar
(ii) pound sterling
(iii) the French franc
(iv) other currencies4
(v) a composite of currencies



(b) Limited flexibility with respect to:
(i) single currency
(ii) cooperative arrangement
(c) More flexible arrangements:
(i) adjusted according to a set of indicators
(ii) other managed floating
(iii) independently floating
2. Separate exchange rate(s) for some or all capital transactions and/or some or all invisibles
3. Import rate(s) different from export rate(s)
4. More than one rate for imports
5. 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
For key and footnotes, see page 555.
For key and footnotes, see page 555.
ChileChina, People’s Rep.ColombiaComorosCongoCosta RicaCyprusDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEthiopiaFijiFinlandFranceGabonThe GambiaGermany, Fed. Rep. ofGhanaGreeceGrenadaGuatemalaGuineaGuinea-BissauGuyanaHaitiHondurasHong KongHungaryIceland




IndiaIndonesiaIran, Islamic Rep.IraqIrelandIsraelItalyIvory CoastJamaicaJapanJordanKenyaKoreaKuwaitLao People’s Dem. Rep.LebanonLesothoLiberiaLibyan Arab JamahiriyaMadagascarMalawiMalaysiaMaldivesMali
A. Acceptance of Article Status
1. Article VIII status
2. Article XIV status
B. Exchange Arrangement3
1. Exchange rate determined on the basis of:
(a) A peg to:
(i) the U.S. dollar
(ii) pound sterling
(iii) the French franc
(iv) other currencies4
(v) a composite of currencies







(b) Limited flexibility with respect to:
(i) single currency
(ii) cooperative arrangement
(c) More flexible arrangements:
(i) adjusted according to a set of indicators
(ii) other managed floating
(iii) independently floating
2. Separate exchange rate(s) for some or all capital transactions and/or some or all invisibles
3. Import rate(s) different from export rate(s)
4. More than one rate for imports
5. 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
For key and footnotes, see page 555.
For key and footnotes, see page 555.
MaltaMauritaniaMauritiusMexicoMoroccoNepalNetherlandsNetherlands AntillesNew ZealandNicaraguaNigerNigeriaNorwayOmanPakistanPanamaPapua New GuineaParaguayPeruPhilippinesPortugalQatarRomaniaRwandaSt. LuciaSt. Vincent and GrenadineSão Tomé and PrincipeSaudi ArabiaSenegalSeychellesSierra LeoneSingaporeSolomon IslandsSomalia






South AfricaSpainSri LankaSudanSurinameSwazilandSwedenSyrian Arab Rep.TanzaniaThailandTogoTrinidad and TobagoTunisiaTurkeyUgandaUnited Arab EmiratesUnited KingdomUnited StatesUpper VoltaUruguayVanuatuVenezuelaViet NamWestern Samoa
A. Acceptance of Article Status
1. Article VIII status
2. Article XIV status
B. Exchange Arrangement3
1. Exchange rate determined on the basis of:
(a) A peg to:
(i) the U.S. dollar
(ii) pound sterling
(iii) the French franc
(iv) other currencies4
(v) a composite of currencies



(b) Limited flexibility with respect to:
(i) single currency
(ii) cooperative arrangement
(c) More flexible arrangements:
(i) adjusted according to a set of indicators
(ii) other managed floating
(iii) independently floating
2. Separate exchange rate(s) for some or all capital transactions and/or some or all invisibles
3. Import rate(s) different from export rate(s)
4. More than one rate for imports
5. 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
For key and footnotes, see page 555.
For key and footnotes, see page 555.
Yemen Arab Rep.Yemen, P. D. R. ofYugoslaviaZaïreZambiaZimbabwe
CorrigendumAnnual Report on Exchange Arrangements and Exchange Restrictions 1984Footnote 3, page 555Key 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 listing includes a nonmetropolitan territory (Hong Kong) for which the United Kingdom has accepted the Fund’s Articles of Agreement, and the Netherland Antilles, which is a part of the Kingdom of the Netherlands. Exchange practices indicated in individual countries do not necessarily apply to all external transactions.

Usually December 31, 1983.

It should be noted that existence of a separate rate does not necessarily imply a multiple currency practice under Fund jurisdiction. Exchange arrangements involving transactions at a unitary rate with a group of countries and another unitary rate with a second group of countries are considered, from the viewpoint of the overall economy, to involve two separate rates for similar transactions.

Indian rupee, South African rand, and Spanish peseta.

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.

(Moisten and affix.)
CorrigendumAnnual Report on Exchange Arrangements and Exchange Restrictions 1984Footnote 3, page 555Key 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 listing includes a nonmetropolitan territory (Hong Kong) for which the United Kingdom has accepted the Fund’s Articles of Agreement, and the Netherland Antilles, which is a part of the Kingdom of the Netherlands. Exchange practices indicated in individual countries do not necessarily apply to all external transactions.

Usually December 31, 1983.

It should be noted that existence of a separate rate does not necessarily imply a multiple currency practice under Fund jurisdiction. Exchange arrangements involving transactions at a unitary rate with a group of countries and another unitary rate with a second group of countries are considered, from the viewpoint of the overall economy, to involve two separate rates for similar transactions.

Indian rupee, South African rand, and Spanish peseta.

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.

(Moisten and affix.)

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