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The BIF reference exchange rate is determined by the weighted average rate applied to purchases and sales of currencies made the previous day by commercial banks.
BRB, in its mission to ensure price stability, occasionally intervenes in the interbank market to avoid excessive fluctuations in exchange rates and prevent inflationary effects that would come from imported products.
Over time, the exchange rate regime has undergone reforms depending on both national and international environment.
Click here to see the evolution of exchange rates regime.