IMF urges Seychelles central bank to limit forex interventions

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The International Monetary Fund has urged the Central Bank of the Seychelles to limit the number of times it intervenes in the forex market.

In a statement from the fund on March 18, mission chief Amadou Sy said it was important for the central bank to maintain a flexible exchange rate regime.

The central bank, he said, should intervene in the market only “to the extent needed to avoid excess liquidity volatility and preserve reserve coverage at an adequate level”.

He also called on the

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