Currency Control refers to the steps taken by governments to limit the convertibility of one currency (usually it's own) into others, usually in an effort to limit imports.
Exchange Control, Exchange Control, or Exchange Control refers to restrictions applied by some governments to prohibit or restrict the purchase and sale of foreign currency by residents and/or the purchase and sale of local currency by non-residents.
Exchange controls are primarily introduced by governments concerned that free convertibility may lead to unwanted currency appreciation or fluctuations, also known as the purpose of "trade competition and macroprudential". Exchange controls often pose serious challenges to international business by interfering with cash transactions and making financial instruments more difficult to use.
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