asked the Minister for Finance if having regard to the considerable bother often caused to persons in respect of comparatively small currency transactions by reason of the requirements of the Central Bank in relation to foreign currency transactions, measures will soon be introduced to relax the requirements in respect of small and infrequent transactions; and, if not, why.

The administrative arrangements arising from exchange controls on transactions involving foreign currency are kept to the minimum necessary consistent with the effectiveness of the controls. A number of relaxations were introduced in the existing system of controls when the controls were extended to transactions with the United Kingdom in December 1978. These include the removal of exchange control formalities in respect of most transactions not exceeding £100 and also in respect of travel facilities within generous limits. For larger amounts the banks in many cases have delegated authority from the Central Bank to grant permissions. The possibility of further relaxations is being kept in mind by the Central Bank and my Department.