The main purpose of foreign exchange law is to protect the so called "foreign exchange interest" of the state. After the turmoil of the past decade and the spate of currency crises occurring almost simultaneously in different parts of the world, protecting this interest should mean being able to arrest any negative trends which might result in a crisis. Another function of foreign exchange law is to introduce mechanisms which, if a crisis does happen, create administrative barriers to capital outflow.

Foreign exchange law is not and cannot be a wonder remedy eliminating any eventuality of a currency crisis. However, in specific situations, appropriate regulations may greatly compound the effect of strictly economic measures aimed at combatting the crisis.

Poland is currently in the middle of a debate over modifications to its foreign exchange law, which could be introduced in the course of its harmonisation with EU law. It may be a good time to consider the purpose of the current regulatory restrictions to capital movement, and, even more importantly, their effectiveness. In the author's opinion, many restrictions resulting from the current law are badly constructed. Therefore the basic functions of foreign exchange law - to protect the country's foreign exchange interest - is not fulfilled.