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What are 'closed currencies' and why do they exist? |
Travel Info What are 'closed currencies' and why do they exist? Travel Tips A closed currency is one which the country does not allow the import or export of their money. Many countries use closed currencies, Morrocco, Tunisia,Cuba to name a few. There are various reasons why they dont allow movement of the money, i'm not sure exactly but it is to do with the politics of that country. I would take sterling and change it over there. Source(s): I am a travel agent by trade Other Travel Tips The only closed currency I know of is the Tunisian Dinar. You have to change your currency IN tunisia as the import and export of local currency is strictly prohibited. Egyption Proud is also 'closed currencies'. Closed currency means currency using in their country, but not free to transfer/ buy/sell outside of the country. Government is easy to control the economy and and they are mostly communist countries. Some countries, such as Tunisia and Morocco, have closed currencies, which means you cannot exchange money before you get there. they are currencys you can only purchase in that country the country concerned does not want the money leaving the country for their own reasons |
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