Exchange Rate Arrangements as of December 31, 1997
|Single currency||Currency composite||Flexibility Limited vis-à-vis a Single Currency or Group of Currencies||More Flexibl e|
|U.S. dollar||French franc||Other||SDR||Other||Single currency1||Cooperative arrangements2||Other managed floating||Independently floating|
|Angola||Benin||Bhutan (Indian rupee)||Latvia||Bangladesh||Bahrain5||Austria||Algeria||Maldives||Afghanistan,||Mauritania|
|Antigua and Barbuda||Burkina Faso||Bosnia and Herzegovina||Libyan Arab||Botswana4||Qatar5||Belgium||Belarus||Mauritius||Islamic State of4||Mexico|
|Argentina||Cameroon||(deutsche mark)||Jamahiriya3, 4||Burundi||Saudi Arabia5||Denmark||Brazil4||Nicaragua||Albania||Moldova|
|Bahamas, The4||Central African Rep.||Brunei Darussalam||Myanmar4||Cape Verde||United Arab||Finland||Cambodia4||Norway||Armenia||Mongolia|
|Barbados||Chad||(Singapore dollar)||Cyprus6||Emirates||France||Chile4, 7||Pakistan4||Australia||Mozambique|
|Belize||Comoros||(deutsche mark)||Czech Republic8||Germany||China,||Poland14||Azerbaijan||New Zealand|
|Djibouti||Congo, Rep. of||Kiribati11||Fiji||Ireland||People’s Rep. of||Russian Federation||Bolivia||Papua New Guinea|
|Dominica||Côte d’lvoire||(Australian dollar)||Iceland10||Italy||Colombia9||Singapore||Bulgaria||Paraguay|
|Gabon||(South African rand)||Portugal||Dominican Republic 4||Sudan4||Ethiopia||Romania|
|Marshall Islands11||Guinea-Bissau||(South African rand)||Morocco13||Spain||Ecuador4, 12||Suriname||Gambia, The||Rwanda|
|Micronesia, Federated||Mali||San Marino11||Nepal||Egypt4||Tunisia||Ghana||São Tomé and|
|States of11||Niger||(Italian lira)||Seychelles||El Salvador||Turkey Turkmenistan4||Guatemala||Príncipe4|
|Nigeria4||Senegal||Swaziland||Slovak Republic14||Georgia||Guinea||Sierra Leone|
|Oman||Togo||(South African rand)||Solomon Islands||Greece||Ukraine||Guyana||Somalia|
|St. Kitts and Nevis||Tonga||Honduras4, 12||Uruguay||Haiti|
|St. Vincent and||Western Samoa||Indonesia||Venezuela8||Jamaica||Switzerland|
|the Grenadines||Iran,||Vietnam||Japan||Tajikistan, Rep. of4|
|Syrian Arab Republic4||Islamic Rep. of4||Kenya Republic||Tanzania|
|Israel14||Korea||Trinidad and Tobago|
|Kyrgyz Republic||Liberia||United Kingdom|
|Lao P.D.R.||Madagascar||United States|
|Macedonia, former||Malawi||Yemen, Rep. of|
In all countries listed in this column, the U.S. dollar was the currency against which exchange rates showed limited flexibility.
This category consists of countries participating in the exchange rate mechanism (ERM) of the European Monetary System (EMS). In each case, the exchange rate is maintained within a margin of ±15 percent around the bilateral central rates against other participating currencies, with the exception of Germany and the Netherlands, in which case the exchange rate is maintained within a margin of ±2.25 percent.
The exchange rate is maintained within margins of ±47 percent.
Member maintained exchange arrangement involving more than one market. The arrangement shown is that maintained in the major market. For Zaire, note that the official name was changed to Democratic Republic of the Congo on May 17, 1997.
Exchange rates are determined on the basis of a fixed relationship to the SDR, within margins of up to ±7.25 percent. However, because of the maintenance of a relatively stable relationship with the U.S. dollar, these margins are not always observed.
The exchange rate, which is pegged to the European currency unit (ECU), is maintained within margins of ±2.25 percent.
The exchange rate is maintained within margins of ±12.5 percent on either side of a weighted composite of the currencies of the main trading areas. The exchange arrangement involves more than one market.
The exchange rate is maintained within margins of ±7.5 percent.
The exchange rate is maintained within margins of ±7 percent.
The exchange rate is maintained within margins of ±6 percent.
Country uses peg currency as legal tender.
The exchange rate is maintained within margins of ±5 percent.
The exchange rate is maintained within margins of ±3 percent.
The exchange rate is maintained within margins of ±7 percent with regard to the currency basket.
The exchange rate is maintained within margins of ±2.25 percent with regard to the currency basket.