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Foreign exchange

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Foreign exchange --- Germany

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This paper analyses relatively little overall progress in the formal relaxation of restrictions. Certainly, progress in this respect was much less than in the immediately preceding years. On the other hand, there was a significant strengthening of most internationally traded currencies, particularly in the opening months of 1958. The rates in free markets began to approximate the rates in official markets. In this respect, there was continued progress toward what is commonly called external convertibility, although the present position still falls short of formal external convertibility. In some countries, restrictions were relaxed to only a limited extent, partly because earlier relaxations had left only restrictions of a protective nature and partly because of the more complex nature of the economic trends which characterized the period. In the light of these trends and, more particularly, of the currency speculation which arose during the middle of the period, it is notable that most countries were able to defend the progress toward freer trade and payments which had been made earlier.

Foreign exchange --- Foreign exchange administration. --- Law and legislation.

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The speeches made by officials attending the IMF-World Bank Annual Meetings are published in this volume, along with the press communique´s issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.

Foreign exchange --- International Monetary Fund

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Foreign exchange. --- Balance of payments --- Liquidity (Economics) --- Change, Problème du --- Balance des paiements --- Liquidité (Economie politique)