Definitions for "Exchange control"
The Bank of England controls the flow of currencies in and out of the UK. It buys and sells our currency in to try and keep the exchange rate with other currencies within certain limits.
Rationing of foreign exchange, typically used when the exchange rate is fixed and the central bank is unable or unwilling to enforce the rate by exchange-market intervention.
Various devices a central bank uses for controlling the movement of foreign exchange so as to not deplete a country's reserves.