Forex controls recipe for economic disaster
Government wants to take over control of commercial banks’ customers assets in FCDAs * Foreign currency-denominated accounts (FCDAs) play a critical role in facilitating the country’s terms of trade with international markets and in settlement services * Assets held in FCDAs constitute the national accounts and are part of the tools used in critical assessments such as the country’s foreign currency risk rating, balance of payment tests, and the financial soundness of any country in international trade deals Analysis…
