15 Apr 2009

Fiji devalues its dollar by 20 percent

1:22 pm on 15 April 2009

The Fiji Reserve Bank has devalued the Fiji dollar by 20 percent.

The move follows reports of declining foreign currency reserves and comes amid measures to tighten financial controls

The announcement comes after a raft of changes imposed by the new interim government, including the replacement of the Reserve Bank governor.

The devaluation is effective from this afternoon.