The monetary policy of the Bank has been geared toward promoting a stable value of the NAf with respect to the US dollar. Since 1971 the official NAf/$ rate of 1.79 has been firmly supported by the monetary authorities. The Bank’s main reason for pegging the NAf to the US dollar is that over the years, more than 60% of its international trade relations have been conducted with the United States or in US dollars. To maintain the dollar standard, the Bank must ensure a sufficient supply of foreign exchange.
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Monetary Policy
Last updated: 23.04.2024 09:04