Malawi remittances jump, now at $235m – The Nation Online

Malawi remittances jump, now at $235m – The Nation Online: Malawi has earned $235 million (about K196 billion) in remittance through Money Transfer Operators and Foreign Currency Denominated Accounts in 11 month period to November, Reserve Bank of Malawi (RBM) figures show.

The 11-month figure is nearly twice the $186 million (K137 billion) the country received last year through remittanc

Malawi kwacha rallies against dollar | The Times Group

Malawi kwacha rallies against dollar | The Times Group: The Malawi kwacha continued on its recovery path last week, appreciating against the dollar— moving from K774 to the green buck to K758.9 as at close of business Tuesday.

Market dealers see kwacha recovering – The Nation Online

Market dealers see kwacha recovering – The Nation Online: The kwacha has started gaining ground against the dollar and is steadily appreciating, now trading at K770, according to Financial Market Dealers Association (Fimda).

The kwacha has started appreciating from a three-year low of K778 to a dollar.

In an e-mail response yesterday, Fimda president Patricia Hamisi attributed the gain to the reversal of the underlying factors that caused the depreciation.

Economist Intelligent Unit sees kwacha weakening by 9% | The Times Group

Economist Intelligent Unit sees kwacha weakening by 9% | The Times Group: United Kingdom-based economic think-tank, the Economist Intelligent Unit (EIU), has predicted the local trading unit, the kwacha, will weaken by about nine percent in 2019.

The forecast comes at a time the Reserve Bank of Malawi (RBM) has predicted a stable kwacha in 2019.

The EIU further says fiscal consolidation after the election should reduce the downward pressure on the currency in 2020.

According to Nico Asset Managers’ 2018 Annual Economic Report released on Wednesday, EIU says between 2021 and 2022, a weaker US dollar and higher exports aided by a strengthening in the prices of some of Malawi’s agricultural exports should provide further modest support to the kwacha.

Malawi earns $166.7 million from 67% tobacco | The Times Group

Malawi earns $166.7 million from 67% tobacco | The Times Group: Malawi earns $166.7 million from 67% tobacco
Posted By: William Kumwembeon: June 20, 2018In: BusinessNo Comments
Malawi has so far realised a total of $166.7 million from sales of top export crop, tobacco, a 33.6 percent jump when compared to same period last year, thanks to increased volumes traded, figures from regulator, the Tobacco Control Commission (TCC), have shown.

During the first 10 weeks of trading last year, the green gold had raked in $124.7 million.

The figures indicate that as at Friday last week, sales volumes for all types of tobacco stood at 98,596,916 kilogrammes (kg) compared to 65,148,859 kgs sold during the same time last year, representing a 51.34 percent rise.

The traded volume is 66.7 percent of the 149 million kg estimated to have been produced by farmers this year.

However, average price remains relatively weak this year at $1.69 per kg, which is 11.17 percent shy of the $1.91 per kg that the leaf was fetching during the same time last year.

All things being equal, at the rate tobacco sales are going, Malawi could earn slightly over $252.9 million this year, compared to about $212 million earned last year.

Tobacco dollars continue to stabilise kwacha—RBM - The Nation Online

Tobacco dollars continue to stabilise kwacha—RBM - The Nation Online: "YOU ARE HERE: Home → Tobacco dollars continue to stabilise kwacha—RBM

Tobacco dollars continue to stabilise kwacha—RBM
Orama Chiphwanya June 4, 2018 0 Comments


The Reserve Bank of Malawi (RBM) says proceeds from tobacco have contributed to the stability of the kwacha and increased foreign exchange reserves.

In an interview on Friday, RBM spokesperson Mbane Ngwira said: “We cannot rule out the fact that the tobacco dollars are having an impact on the kwacha. There are some purchases that have been done from the market."



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Kwacha remains firm - The Nation Online

Kwacha remains firm - The Nation Online:



Kwacha remains firm

Orama Chinamulungu O April 7, 2018 o Comments

The Reserve Bank of Malawi (RBM) along with some economic commentators have said the

slight depreciation of the local unit recorded in the previous month is no cause for alarm but

rather a normal market occurrence.

The central bank and the economic commentators were reacting to a recent situation where

the kwacha has remained firm to major trading currencies for the past 14 months, but

experienced a slight depreciation last month by shedding off Kl.





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Foreign exchange reserves pick up | The Times Group

Foreign exchange reserves pick up | The Times Group:

Malawi's gross foreign exchange reserves—a combination of official and private sector reserves

— increased marginally last week from 3.39 months of import cover two weeks ago to 3.42

months as of Wednesday, latest figures from the Reserve Bank of Malawi (RBM) have shown.

Recent RBM Daily Financial Market Development report for February 16 indicates that as of last

week, total official reserves increased to $715.02 million from $709.17 two weeks ago.

The marginal increase comes as the country is going towards the end of its lean period, usually

between November and February, when demand for forex surges due to demand for fertiliser and

farm inputs.

The increase also comes as the local currency; the Malawi Kwacha, has marginally weakened

against the British Pound and the South African Rand over the past two months despite being

steady against the United States Dollar.

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Forex reserves drop normal, says rbm - The Nation Online

Forex reserves drop normal, says rbm - The Nation Online:



Forex reserves drop normal, says rbm

Orama Chinamulungu O January 25, 2018 o Comments

The Reserve Bank of Malawi (RBM) and some economists have said the marginal decline in the

foreign exchange reserves is seasonal and a normal occurence on the market.

In recent months, the central bank has maintained a foreign exchange reserves position of about

three months of import cover, which is the minimum recommended international threshold, a

situation attributed to open market operations— the buying and selling of government securities

in the open market to expand or contract money supply.





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Malawi’s forex reserves recover from slight decline - The Nation Online

Malawi’s forex reserves recover from slight decline - The Nation Online:



Malawi's gross foreign exchange reserves a combination of official and private sector reserves

inched upwards to 3.68 months of import last week recovering from the prior week's slight

fall.

According to Reserve Bank of Malawi's (RBM) daily financial market report for November 29 the

gross official reserves rose to $770.06 million (about K5.6 billion), equivalent to 3.68 months of

import cover on November 27.

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Malawians burderned as Kwacha sinks lower | Business World News 2015-12-23

Malawians burderned as Kwacha sinks lower | Business World News 2015-12-23: "The weak grip of the Malawi kwacha on the U.S. dollar is weighing heavily on Malawians who are expected to pay more for their daily needs during and after the festive season. "



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Speculators blamed for kwacha stumble

Speculators blamed for kwacha stumble | The Times Group: "Experts have blamed speculative trading by foreign exchange players on the market for the recent fall in the value of the Malawi kwacha.

The Financial Dealers’ Association of Malawi (Fimda) and an economic analyst have said there is a general expectation on the market that foreign exchange reserves will deplete in the coming months and that players have started taking positions."



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Foreign reserves surge

Foreign reserves surge: "Foreign reserves surge
MONDAY, 20 MAY 2013 09:47 KINGSLEY JASSI
The foreign currency situation in the country continues to improve, with the import cover climbing to 1.63 months as of May 10, official figures have indicated.

Last Friday's daily money market report by Reserve Bank of Malawi (RBM) shows that official foreign reserves jumped to US$306 million by May 10 from US$240 million at the beginning of the month."

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Tobacco forex to last 47days only

Tobacco forex to last 47days only: "Tobacco forex to last 47days only
WEDNESDAY, 03 APRIL 2013 09:18 TAONGA SABOLA

AN analysis by The BNL Times has shown that this year's forex earnings from the country's green gold, tobacco, will just be enough to meet Malawi's forex needs for 47 days.

This is despite overwhelming expectations from authorities and economic commentators who believe tobacco inflows will help stabilize the nose-diving Malawi Kwacha."

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