Malawi kwacha sinks to new low | The Times Group: By Taonga Sabola:
Pressure is mounting on the country’s trading currency, the kwacha, with Malawians needing over K800 to buy the dollar from around K740 in March.
This is the first time the Malawi kwacha has sunk to a low against the dollar since it was adopted as Malawi’s trading unit.
This is despite the country being in the middle of sales of major foreign exchange earner, tobacco.
According to Reserve Bank of Malawi (RBM) daily foreign exchange rates, the dollar was selling at an average of K805 to the dollar in forex bureau
Pressure is mounting on the country’s trading currency, the kwacha, with Malawians needing over K800 to buy the dollar from around K740 in March.
This is the first time the Malawi kwacha has sunk to a low against the dollar since it was adopted as Malawi’s trading unit.
This is despite the country being in the middle of sales of major foreign exchange earner, tobacco.
According to Reserve Bank of Malawi (RBM) daily foreign exchange rates, the dollar was selling at an average of K805 to the dollar in forex bureau
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