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FOREIGN EXCHANGE AUCTION SYSTEM [1 record]

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Record 1 2002-03-26

English

Subject field(s)
  • Economic Planning
CONT

To combat inflation, the authorities reintroduced price control, replaced the foreign exchange auction system with an administrative allocation of foreign exchange at an appreciated fixed exchange rate, and reduced interest rates to substantially below market-clearing levels.

French

Domaine(s)
  • Planification économique
CONT

Pour combattre l'inflation, les autorités ont réintroduit le contrôle des prix, remplace les adjudications de devises par un système d'allocation administrative des devises à un taux de change fixe plus élevé et ramené les taux d'intérêt à des niveaux très sensiblement inférieurs au taux d'équilibre du marché.

Spanish

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