#header-inner img {margin: 0 auto !important; #header-inner {text-align: Center ;} Fiji Coupfourpointfive: Fiji dollar devalued

Wednesday, April 15, 2009

Fiji dollar devalued

Bank sources say the interim government has devalued the Fiji dollar by 20 per cent.

Banks around Fiji were told of the decision an hour ago and the Reserve Bank is expected to announce it soon.

The Fiji dollar was last devalued in 1998 by 12.5 per cent, by the then Finance Minister, Jim Ah Koy.

Prior to that, it was devalued on two occassions after the 1987 coups - by 33.25 per cent.

The government also yesterday moved to stop cash reserves leaving the country and sacked the Reserve Bank Governor, Savenaca Narube.