Kwacha holds firm against dollar amidst rumours of devaluation

May 24, 2024 Our reporter 10 Comments
The Malawi Kwacha continues to maintain stability against the US dollar amidst rumours of devaluation of the currency, according to statistics from Foreign Exchange Auction.

Bertha Chikadza, president of the Economics Association of Malawi (ECAMA) said this stability reflects positively on the local economy.
She encouraged Malawians not to lose hope, citing the Reserve Bank of Malawi’s consistent communication regarding any developments related to the kwacha.
Currently, $1 is trading at K1,751 and RBM spokesperson Mark Lungu, recently described as unfounded fears of devaluation by some people.
The stability of the local currency is anticipated to persist as the country’s tobacco marketing season reaches its sixth week.
During the fifth week, the country recorded $108 million in revenue, marking an increase from the $64 million realized during the same period last year.

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10 replies on “Kwacha holds firm against dollar amidst rumours of devaluation”

  7. Its not true to tell us Malawians that we’re at the right time and position where we can say that things are okay,,while our relatives are suffering in malawi coz of how expensive things are,,,

    I was talking to my relatives and I was telling them that am coming back home, ,,the response was that I should not dare going back to my country because things are very bad in malawi talking of higher taxes and how expensive things are in the shops,,,yet the tonse alliance promised a lot of things yet its visaves,

    So if the government has given you something so that you can write down and send it to internet then you are completely wrong,,,,my advice is that just shut up your mouth

    We are tired of supporting nonsense!!!!!

  9. Anthu palibe tingayakhule cause ziko lafika pomayenda bwino Kwa okhawo akugwila m’boma komaso siwose only minsters why only Malawi

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