A magnetically influenced current or voltage regulator includes a body of an anisotropic magnetisable material that provides a closed magnetic circuit. A first electrical conductor is wound around the body along at least a part of the close circuit for at least one turn which forms a first main winding. At least one second electrical conductor is wound around the body along at least a part of the closed circuit for at least one turn which forms a control winding. The winding axis for the main winding is at right angles to the winding axis for the control winding. Orthogonal magnetic fields are generated in the body when the first main winding and the control winding are excited. A characteristic of the anisotropic magnetisable material relative to a field in the main winding is controlled by means of a field in the control winding.