Financial rand Financial rand The South African financial rand was the most visible part of a system of capital controls. Although the financial rand was abolished in March 1995, some capital controls remain in place. These capital controls are locally referred to as "exchange controls", although the system has since 1995 moved towards surveillance — recording and reporting to the authorities of foreign currency transactions — rather than control. Capital controls have been in place in South Africa in various guises on an uninterrupted basis since the outbreak of World War II, when Great Britain and its dominions implemented the Sterling area.
Currency War of 2009–11 fast that it would lead to social unrest in China, bankruptcy for export dependent companies and "disaster for the world". In October, China posted a record surge in its foreign exchange reserves, which was seen as a "target around the neck of China’s exchange rate regime" in the effort to get the country to allow its currency to appreciate. In reaction, Geithner suggested China’s attempts at limiting gains were the reason for capital controls and currency-market interventions in other emerging economies. "What’s happening is, as China holds its currency down, their currencies are moving up and they’re having to work