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Tuesday, May 22, 2007

Fiji Dollar will not be devalued

The Reserve Bank of Fiji said yesterday that there will be no devaluation of the Fiji dollar amidst rumours that a 15% devaluation is being considered.

The Interim Government has also said that no such action is being considered at this stage.

A University of the South Pacific economist said devaluation should not be seen as an option now. The economist said any move to devalue relative to Fiji's major trading partners' currencies would do more harm than good to Fiji's economy.

Read more on this in a Fiji Times article here.

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