Malawi Kwacha in further gains against US Dollar

Reserve Bank of Malawi (RBM) statistics show that Malawi Kwacha currency continues further gains against the dollar and other major international currencies in the month of February 2015.1,

Kwacha notes
Kwacha notes

Against the United States dollar the Kwacha is at K425 in some authorised dealer banks in Lilongwe from a peak of K520 it 2was sold in December last year.

The kwacha appreciated by 3.3 percent against the dollar to close the month at K439.42, gained  0.7 percent against the British pound, 2.6 percent against the South African rand and 4.7 percent against the euro.

RBM spokesperson Mbane Ngwira has attributed the continued appreciation of the kwacha against other currencies to the injection of more foreign currency in the market, among other factors, The Nation reported Thursday.

Gross Official Foreign Reserves which fall directly under the control of RBM stood at $669.18 million as at March 4, 2015, representing 3.5 months of import cover.

Meanwhile, Nico Asset Managers Limited, a Blantyre-based investment management and advisory firm has projected that the exchange rate is expected to continue appreciating as we approach the opening of tobacco market.

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DANIEL
DANIEL
6 years ago

Yeah, koma apapa ndiri ndi funso? Kumbuyoku timawona ndalama ya Zambia iri kutali ndi ndalama yathu. Panopa tikulowamo kambiri-mbiri. Ziri bwanji? Ganizo lina ndi loti koti bwanji titati tisinthe dzima zilo “zero or 00” tichotse monga momwe anzathu adachitira? M’malo mwa R1000.00 tingoti R10.00? Zingatani kwa ifeyo monga anzathu’wo adachitira panopa zikuayendera.

Bokonomiks
6 years ago

I don’t understand when my fellow learned Malawians say that azungu agula fodya motchipa… the tobacco buyers pay in dollars, so it does not matter where the kwacha is in relation to the dollar for their cost is in dollars. The issue we should be talking of is why the benefits of the appreciation has not filtered through into low commodity prices; there we have a bone to pick with government

EKaPol
EKaPol
6 years ago

Ready to pounce on poor Malawian farmers… Why do rich western countries treat us (Africans) so bad like this… They enslaved us, now they continuously step on us financially…

osman usu justin
osman usu justin
6 years ago

Nde mukut rand ili pabwanji?

chinkombaleza gumanyundo gowa
chinkombaleza gumanyundo gowa
6 years ago

Alimi mudziona mphamvu ya ndalama pa nthawi imeneyo osati kuchuluka kwa ndalama. chitsanzo kale umatha kugula mazira mafuta ophikira pa MK10 yokha kusonyeza kuti inali ndi mphamvu zogulira zinthu. Mphamvu imeneyi ndichifukwa kuti dolar to kwacha inali 1 kwa 1. Ikamachepa kwacha kwa dola ndiye kuti mphamvu ya ndalama ikuchuluka. Mwamva? Osamangolira zilizonse.

Ndatopa
Ndatopa
6 years ago

Which economy is doing good? This is not politics. This is day light robbery. It is very surprising to note that farmers buy their inputs at the time our currency is weak and when they about to sell the produce, the kwacha is manually lifted up against the dollar. This is indeed DAY LIGHT ROBBERY kwa alimi a fodya. When will they reap for their sweat? Shame on whoever advocates this EVIL.

nasimelo
nasimelo
6 years ago

its about time we started appreciating local commodities and buying locally produced stuff and supporting local business instead of relying on imports because imports deplete our forex and are very expensive with not much value added to them.

jacky
jacky
6 years ago

Can CAMA also probe Multichoice DSTV rates, come April their rates are going up.

Name*wosowa kwawo alibe mawu

Chimene ndikuona apa ndichofuna kupweteka alimi coz mbewu zakhwima mufuna muwabere in the name kuti kwacha yapanga appreciation zachamba basi. Akamaliza kuguliysa mbewu idzakwereso. Sindingamasekerere zopusazo. Why is it a custom that pamene alimi akufuna ayambe kugulitsa mbewu kwacha imakwera

preckad
preckad
6 years ago

Daylight robbery….akufuna agule fodya mochipa basi..atibele ife alimi…..!!

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