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FrançaisA government policy of regulating access to foreign currency. Typically, countries resort to exchange control because of chronic shortages of foreign currency, particularly the so-called hard (freely convertible) currency. The are several ways governments implement exchange control. Import licensing limits…
Read MoreExchange rate
The price of one currency expressed in terms of another, i.e., the number of units of one currency that may be exchanged for one unit of another currency. There are mainly two systems of exchange rates: Free exchange rates: the…
Read MoreExchange risk
The possibility of receiving less or paying more money because a receivable or a payable is denominated in a foreign currency. Countries with shortages of convertible currencies reserves often resort to exchange control. Under these conditions, delays in payments often…
Read MoreExcise tax
A selective tax, sometimes called consumption tax, on certain goods produced within or imported into a country. An example is a tax on the import of crude oil, or a tax on certain luxury goods.
Read MoreExclusive distribution
This is a type of distribution in which only one distributor is authorized to sell a specific product within a particular territory. The legality of an exclusive distribution agreement can vary depending on the specifics of the case. In some…
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