I believe that this will be more transparent and easier to administer. We will announce details of these changes shortly. I am of the view that these changes meet the concerns that were raised on this policy but at the same time adequately addressing our balance of payments situation. The new policy will still become effective at the beginning of next year.
I must acknowledge the cooperation and support of the commercial banks in the implementation of our monetary policy particularly at these difficult times. Coin review I would also like to announce that following the introduction of our new Bank Notes this year, we are now reviewing Fiji’s coin structure.