Seychelles makes ‘opportunistic’ FX purchases
Central bank added more than $100 million in reserves in 2013
The Central Bank of Seychelles took advantage of a "strong increase" in foreign exchange inflows in 2013 by increasing its reserves by almost 40% to $425 million.
The Seychellois rupee appreciated by around 10% against the US dollar in 2013, which allowed the central bank "to opportunistically purchase foreign exchange from the market… without influencing the exchange rate", according to its latest annual report.
During the year the central bank also revised its investment policy, as it sought
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