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Central Bank to maintain monetary policy into 2021
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Fitch rating downgrade expected but path to recover more important
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Governor Abel (Photo: Anel Robert)
The Central Bank of Seychelles (CBS) Governor, Caroline Abel, yesterday dedicated the Africa’s Woman Leaders Awards to the employees working alongside her to ensure that CBS delivers on its mandate to maintain domestic financial stability.
The award was remitted to Miss Abel as part of the Africa Leadership Awards, held on Tuesday December 8, 2020.
“I do not consider the award as my own, as I work in an institution, and I work alongside a group of persons, and the work that I do, is automatically not done by myself alone. For me, the award is representative of the whole CBS, what the CBS is bringing about in our country, and the work that we have done, has been recognised further than in Seychelles,” she said.
Governor Abel (Photo: Anel Robert)
Despite demand consistently outweighing supply of foreign exchange to the domestic market, the Central Bank of Seychelles has over the past couple of weeks recorded a slight improvement in both, resulting in some stability in the foreign exchange market.
Governor of Central Bank of Seychelles (CBS) Caroline Abel, during the press update held at ICCS yesterday, noted that demand is still slightly higher than supply, although CBS continues to monitor the situation on a daily basis.
“Over the last two weeks, we have observed some stability in the exchange rate and some convergence of demand and supply, but what remains as a concern for the Central Bank in light of an elevated exchange rate, it is having a significant consequence for increasing prices, and therefore affecting the objective of price stability of the CBS. We would like to call on all economic agents that we really need to relook at our consumption, which will affect the whole country
Governor Caroline Abel recognised as one of Africa s woman leaders
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