Independently Floating Exchange Rate Arrangements in Developing Countries, Including Elements in Fund-Supported Economic Programs, January 1983–December 1986
|Date of Program||Date of Adoption of Independent Float||Floating Arrangements Linked to Program||Prior Use of Official Multiple Exchange Rate System (Introduced as Part of Program)1||Length of Time Multiple Rates Maintained|
|Bolivia||June 1986||August 1985||Yes2||Yes2||Yes (No)||8 months|
|Dominican Republic||April 1985||January 1985||Yes2||Yes2||Yes (No)||More than 2 years|
|Gambia, The||September 1986||January 1986||Yes2||Yes2||No|
|Ghana||August 1984||September 1986||Yes||No||Yes (Yes)||Unification planned for 1987|
|Guinea||February 1986||June 1986||Yes||Yes||Yes (Yes)||4 months|
|Jamaica||June 1984||November 1983||No||Yes||Yes (Yes)||6 months|
|Nigeria||December 1986||September 1986||Yes2||Yes2||Yes (Yes)||Unification planned for 1987|
|Philippines||December 1984||October 1984||No||Yes||No|
|Sierra Leone||November 1986||June 1986||Yes2||Yes2||Yes (No)||6 months|
|South Africa||February 1983||Yes (No)||More than 2 years|
|Uganda||September 1983||June 1984||Yes||No||Yes (Yes)||22 months|
|Uruguay||April 1983||November 1982||No||No||Yes (No)||More than 2 years3|
|Zaïre||December 1983||February 1984||Yes||No||Yes (Yes)||5 months|
|Zambia||February 1986||October 1985||Yes||No||No|
The reference here is to a dual exchange market other than illegal parallel market which was present in most cases at the time of institution of the floating rates; except in Sierra Leone the dual arrangements included a free primary or secondary market.
Program was tentative at time of introduction.
Dual market was de facto unified in October 1978.