Aims Of Exchange Control

The objectives of exchange controls are as follows:

1.To stabilize exchange rate which many fluctuate without a proper control endangering the stability of the local currency and foreign trade.
2.It facilitates meeting effectively competition with the foreign goods.
3.Flight of capitals is easily and efficiently controlled.
4.Foreign exhcnage reserves can be maintained at a proper or desired level.These reserces gives strenght to the local currency and the economy.
5.It stops depleting gold reserves.
6.The control improves balance of payment