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Sunday, June 21, 2009

Foreign Exchange

when deems it necessary for the prevention of drastic exchange rate fluctuation of our currency, or for the maintenance of our authorized foreign exchange banks' international credence, impose the following restrictions on the authorized foreign exchange banks, as a Cabinet Order provides for:
*To prescribe a limit on their foreign exchange position (which means the difference between the foreign currency assets balances and foreign currency liabilities balances computed by a method defined by a Cabinet Order), or to require them to satisfy certain requisites prescribed by a Cabinet Order for their foreign exchange business; and
*To banning interest on certain accounts, designated by a Cabinet Order, which are in our currency and opened in the name of a non-resident.

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