In export foreign exchange control, the most stringent requirement is that exporters must sell all foreign exchange income to designated banks at the official exchange rate. When applying for an export license, the exporter shall fill in the price, quantity, settlement currency, payment method and payment term of the exported goods and submit the letter of credit.
Two. Foreign exchange import control
The control of imported foreign exchange usually shows that importers can only buy a certain amount of foreign exchange at designated banks approved by various authorities. The foreign exchange bureau decides whether to approve the importer's application for foreign exchange purchase according to the import license. In some countries, the procedure of approving foreign exchange imports is carried out at the same time as issuing import licenses.
Three. Non-trade foreign exchange control
Non-trade foreign exchange involves all kinds of foreign exchange receipts and payments except trade receipts and payments and capital input and output. The control of non-trade foreign exchange income is similar to the control of export foreign exchange income, that is, it is stipulated that the relevant units or individuals must sell all or part of foreign exchange income and expenditure to designated banks at the official exchange rate.
In order to encourage people to earn non-trade foreign exchange income, the government may implement some other measures, such as the implementation of the foreign exchange retention system, allowing residents to open foreign exchange accounts in designated foreign exchange banks for personal labor income and brought in funds, and exempt from interest income tax.
Four. Foreign exchange control of capital input
The measures taken by developed countries to restrict capital input are usually aimed at stabilizing financial markets and exchange rates and avoiding excessive international reserves and inflation caused by capital inflows. The measures they take include: setting up higher deposit reserve for banks to absorb non-resident deposits; Do not pay interest or reciprocal interest on non-resident deposits; Restrict non-residents from buying the country's securities, etc.
Verb (abbreviation of verb) foreign exchange control of capital export
Developed countries generally adopt policies to encourage capital export, but they will also adopt some policies to restrict capital export in certain periods, such as when facing a serious balance of payments deficit. The main measures include: stipulating the maximum amount of foreign loans of banks; Countries and departments that restrict enterprises' foreign investment; Levy interest balance tax on residents' overseas investment.
Intransitive verbs control the import and export of gold and cash.
Countries that implement foreign exchange control generally prohibit individuals and enterprises from carrying, consigning or mailing gold, platinum and silver out of the country, or limit the number of them leaving the country. For the import of domestic cash, countries that implement foreign exchange control often implement a registration system, set import quotas, and require them to be used for designated purposes.
The cash export of this country will be examined and approved by the foreign exchange administration and the corresponding limit will be set. Countries that do not allow free convertibility of currencies prohibit the export of cash.
Seven: Complex exchange rate system
In fact, foreign exchange price control will inevitably form various complicated exchange rate systems. Complex exchange rate system refers to the existence of two or more exchange rates between one country's currency and other countries' currencies due to rules and regulations and government actions.
Extended data:
According to the degree of restriction: it is divided into freely convertible foreign exchange, limited freely convertible foreign exchange and bookkeeping foreign exchange.
Freely convertible foreign exchange is the most used foreign exchange in international settlement, which can be bought and sold freely in the international financial market, can be used to pay off creditor's rights and debts in international finance, and can be freely converted into currencies of other countries. Such as US dollars, Hong Kong dollars and Canadian dollars.
Limited freely convertible foreign exchange refers to foreign exchange that cannot be freely converted into other currencies or paid to a third country without the approval of the issuing country. According to the regulations of the International Monetary Fund, all currencies with certain restrictions on international current payments and capital transfer are restricted freely convertible currencies. More than half of the national currencies in the world are limited convertible currencies, including RMB.
Bookkeeping foreign exchange, also known as clearing foreign exchange or bilateral foreign exchange, refers to foreign exchange deposited in bank accounts designated by both parties and cannot be converted into other currencies or paid to third countries.
According to source use: it is divided into trade foreign exchange, non-trade foreign exchange and financial foreign exchange.
Trade foreign exchange, also known as physical trade foreign exchange, refers to foreign exchange derived or used in import and export trade, that is, international payment means formed by international commodity circulation.
Non-trade foreign exchange refers to all foreign exchange except trade foreign exchange, that is, all foreign exchange that is not derived from or used for import and export trade, such as labor foreign exchange, remittance, donation foreign exchange, etc.
Different from trade foreign exchange and non-trade foreign exchange, financial foreign exchange belongs to a kind of financial asset foreign exchange, such as inter-bank trading foreign exchange, which is neither derived from tangible trade nor intangible trade, nor used for tangible trade, but used for the management and manipulation of various currency positions.
According to the market trend: it is divided into hard foreign exchange and soft foreign exchange, or strong currency and weak currency.
Baidu encyclopedia-foreign exchange