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China's foreign exchange regulations then allowed each citizen to take only $40 out of the country.
"This constitutes tax evasion, illegal transfer of money abroad and a violation of foreign exchange regulations."
Few Indians travelled abroad but for business because of the stringent foreign exchange regulations, which did not allow one to carry more than five hundred dollars.
Earlier the government had approved amendments codifying foreign exchange regulations to enable foreign companies to repatriate profits.
A.S. Roma successfully bid £15,000 for him, a large sum in those days, but foreign exchange regulations stopped the transfer.
Private participation remains constrained, however, by the lack of investment funds, input/output pricing limits, cumbersome customs and foreign exchange regulations, and poor marketing.
Foreign exchange regulations and monetary policy throughout the CMA continue to reflect the influence of the South African Reserve Bank.
In a country with strict foreign exchange regulations, the demand for foreign currency will be satisfied in the holding of foreign currency assets abroad and outside the domestic banking system.
The Central Bank liberalized its foreign exchange regulations on Feb. 1, 1990, eliminating the system which required all transactions to go through the bank and to take place at a fixed daily rate.
The Government has begun loosening foreign exchange regulations and so now it is easier for Japanese savers to turn their savings into dollars or marks and invest in the United States and Europe to get higher returns.
Maintaining a common currency requires a strong political consensus in respect to monetary and fiscal targets, a common institution in charge of implementing these targets, and some minimum of common legislation (concerning the banking and foreign exchange regulations).
The government announced that from Jan. 1, 1991, foreign exchange regulations were to be liberalized and tariffs levied in line with the introduction (on Jan. 1) of the CARICOM common external tariff (CET).
January 14 - Keiji Fujimaki, vice president of Nishimatsu Construction, and three others are arrested on suspicion of violating foreign exchange regulations for allegedly bringing in 70 million Yen in funds from abroad without reporting them to customs authorities.
The organization of annual pilgrimages to Mecca also came under the auspices of the ministry because of limits on the number of pilgrims admitted by the government of Saudi Arabia and the restrictive foreign exchange regulations of the government of Bangladesh.