The Governor of the Central Bank Seychelles Caroline Abel has
announced that the Seychelles is experiencing a shortage of supply
in hard currency and will take steps to redress this in its
There is a shortage of hard currency in the market. Requests
to commercial banks are going un met for as much as 30 days.
This affirms the SFP position that the Seychelles Rupee has
been kept at an artificial level deliberately by the PL policy .
The Governor said the Public can expect higher interest rates
to curb demand for hard currency and a devaluation of the
Seychelles Rupee in due course to adjust the imbalance
resulting from poor economic performance.
The minister of Finance Pierre Laporte is still waiting
until the end of the 3 rd quarter to assess the situation.