diff --git a/.flowconfig b/.flowconfig
index f2d217a5261..da1658dc3ee 100644
--- a/.flowconfig
+++ b/.flowconfig
@@ -36,6 +36,8 @@ emoji=true
 esproposal.optional_chaining=enable
 esproposal.nullish_coalescing=enable
 
+exact_by_default=true
+
 module.file_ext=.js
 module.file_ext=.json
 module.file_ext=.ios.js
@@ -72,7 +74,6 @@ inexact-spread=warn
 unnecessary-invariant=warn
 signature-verification-failure=warn
 deprecated-utility=error
-implicit-inexact-object=error
 
 [strict]
 deprecated-type
diff --git a/.flowconfig.android b/.flowconfig.android
index bbc7d4bb419..e16c4d51ca8 100644
--- a/.flowconfig.android
+++ b/.flowconfig.android
@@ -36,6 +36,8 @@ emoji=true
 esproposal.optional_chaining=enable
 esproposal.nullish_coalescing=enable
 
+exact_by_default=true
+
 module.file_ext=.js
 module.file_ext=.json
 module.file_ext=.android.js
@@ -72,7 +74,6 @@ inexact-spread=warn
 unnecessary-invariant=warn
 signature-verification-failure=warn
 deprecated-utility=error
-implicit-inexact-object=error
 
 [strict]
 deprecated-type
diff --git a/jest/preprocessor.js b/jest/preprocessor.js
index 5920c0a6f23..8db42e55d60 100644
--- a/jest/preprocessor.js
+++ b/jest/preprocessor.js
@@ -40,6 +40,8 @@ module.exports = {
       }).code;
     }
 
+    /* $FlowFixMe(>=0.99.0 site=react_native_fb) This fixme can be removed after metro releases
+     * 0.58 and RN upgrades its dependency */
     const {ast} = transformer.transform({
       filename: file,
       options: {