The Central Bank of Seychelles has operated under a managed float exchange regime since abandoning its catastrophic fixed-rate peg in 2008, a crisis that had left the country technically bankrupt with foreign reserves covering less than two weeks of imports. The small-denomination stainless steel coinage introduced in the years following reflects a monetary system rebuilt largely under IMF supervision.
The Central Bank of Seychelles has operated under a managed float exchange regime since abandoning its catastrophic fixed-rate peg in 2008, a crisis that had left the country technically bankrupt with foreign reserves covering less than two weeks of imports. The small-denomination stainless steel coinage introduced in the years following reflects a monetary system rebuilt largely under IMF supervision.