International Monetary Fund

Anonymous

International Organization, 1958, vol. 12, issue 4, 542-543

Abstract: The Ninth Annual Report on Exchange Restrictions of the International Monetary Fund, covering the period from May 1957 to April 1958, was transmitted to members and governors of the Fund on May 5, 1958.1 The Report noted that the period under review had showed mixed trends. While there had been relatively little overall progress in the formal relaxation of restrictions, there had been a significant strengthening of most internationally traded currencies, particularly in the opening months of 1958. There had been a marked improvement in the rates at which transferable currencies could be exchanged for convertible currencies in free markets, as well as an improvement in other rates against the dollar, particularly for the currencies of western Europe. The rates in these free markets had begun to approximate the rates in official markets. In this respect, there had been continued progress toward external convertibility.

Date: 1958
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