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https://m.economictimes.com/news/politics-and-nation/nepal-bans-higher-denomination-indian-currency-notes/articleshow/67087887.cms Recently the country of Nepal banned Indian Rupees above 100. Nepal had been an ally and a de facto vassal of India for a long time. The royal house of Nepal was a de facto Indian stooge. Hence India had a free access to both ...


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Romania before 1989 In Cea┼čescu's Romania, it was illegal to possess foreign currency (Romanian): Possession of foreign currency was forbidden, the few Romanians who had legally entered into its possession could use it exclusively for the purchase of goods from the network of specialized state stores ("Comturist" shops). The regime's appetite for ...


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Soviet Union In USSR, any dealings with foreign currency without a special permit (in essence, allowing exporters to get paid in currency and immediately trade them for roubles at the central bank and allowing outgoing travelers to get some currency for expenses, with any remainder to be traded back upon return) was a crime. (see RSSR Criminal Code article ...


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The list here seems pretty complete. Most, if not all of the countries are either socialists or socialist "sympathizers". The outliers in the trend seem to be Russia, India and Ukraine, although I'm not sure about India.


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Argentina There is even a wiki article on it, Argentina currency controls (2011-15): Those controls limited the ability to buy or sell any foreign currency. The restriction was informally known in Argentina as "Cepo cambiario" (Spanish: exchange clamp). The first restrictions were imposed on October 31, 2011. The Tax and Customs Authority, AFIP, ...


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Currency controls or foreign exchange controls have happened time and again in history, taking different forms. At the extreme end, all foreign currency must be surrendered to the government at the official exchange rate, which might differ from the market rate. The GDR banned the possession of Western currency until the 1970s. I'm not sure when the Soviet ...


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This has happened a few times before, and is usually a rather extreme measure used to promote the use of, and trust in, local currency, as opposed to transactions being conducted using a more stable foreign currency, most often USD. Indonesia In 2011, Indonesia banned foreign currencies being used in domestic cash transactions: On 28 June 2011, the ...


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