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Iceland to free up currency movements

celand announced on Tuesday that it plans to lift nearly all the restrictions on currency movements imposed on its citizens in the 2008 global financial crisis.

The country, which introduced capital controls at the time to prevent a capital flight and shore up the national currency, the krona, said it can now begin progressively lifting restrictions.

The finance ministry unveiled draft legislation which will allow Icelanders, for example, to buy property overseas and expand "significantly" their right to purchase foreign currency in cash.

http://www.businesstimes.com.sg/government-economy/iceland-to-free-up-currency-movements