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Part IV Exchange Controls, Exchange Rates, and Sanctions, 18 Exchange Rates

Charles Proctor, Dr Caroline Kleiner, Dr Florian Mohs

From: Mann on the Legal Aspect of Money (7th Edition)

Charles Proctor

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 23 January 2022

Subject(s):
Exchange Rates — Exchange controls and the International Monetary Fund Agreement — Monetary system
18.01 The existence of an independent monetary system creates two distinct problem areas in terms of its relationship with other monetary systems. The first problem area concerns the question of making payments into areas covered by different currency systems. The ability to make such payments may be affected by the incidence of exchange controls or sanctions and these aspects have been considered earlier in this Part. It is now necessary to consider the second problem area, namely, the valuation of one currency in terms of another. 18.02 Monetary systems may be...
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