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During the currency controls, the government issued a foreign exchange certificate that served as a surrogate currency for regulated transactions.
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During the currency controls, the government issued a foreign exchange certificate that served as a surrogate currency for regulated transactions.
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Related words
foreign exchange certificate
Noun
(finance)
A
surrogate
currency
often
used
as
a
tool
to
control
circulation
of
foreign
exchange
in
countries
where
the
national
currency
is
subject
to
exchange
controls
or
is
not
convertible.
The
certificates
may
be
denominated
in
local
or
foreign
currency,
depending
on
the
exact
purpose
of
the
regulation.
Japanese Meaning
（金融用語）国内通貨が換金制限や非転換性である場合に、外国為替の流通を管理するために用いられる代替的な通貨（代理通貨）としての証書。 / 制度上、実際の硬貨や紙幣の代わりに外貨の取引や管理の目的で発行される証明書
Related Words
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