1 Nov 2007

Fiji Reserve Bank eases exchange controls

11:07 am on 1 November 2007

The Reserve Bank of Fiji has relaxed its exchange control policy from today.

The governor of the Reserve Bank, Savenaca Narube, says stability in the level of foreign reserves has allowed the bank to relax the exchange control measures.

A University of Fiji economist, Dr Chandra Dulare, has told the Fiji Times that obviously the country's foreign reserves are improving and imports are declining.

He says it means foreign reserves are up as a combined result of increased remuneration from overseas and a decline in imports.

Dr Dulare says the Reserve Bank's announcement is a sensible move.