The local currency, the Kwacha, is expected to stabilise in the near future on the back of fiscal and monetary policy actions currently being implemented by the Reserve Bank of Malawi (RBM), the Governor of the central bank has said. RBM Governor Charles Chuka gave a dose of confidence after the fourth Monetary Policy Committee (MPC) meeting […]
Consumers have bemoaned the constant lack of reversal effects on the market which authorities and the business community continue to ignore despite changes in the country’s economic fundamentals. Some of the consumers have argued that the basis for rising commodity prices on the market which was pegged on the cost of fuel and the US […]
Malawi currency the Kwacha has continued to weaken against some major foreign currencies such as the US dollar from K350 to K360. So far the Malawi Kwacha’s has lost value by 10 percent points. Executive Director of the Malawi Economic Justice Network Dalitso Kubalasa has since attributed the development to the closure of the tobacco […]
By Charles Kufa, Nyasa Times Reserve Bank of Malawi has devalued the kwacha currency by about 10 percent against the U.S. dollar to 165, it has been reported. According to a Reuters report, unnamed bank source said on Monday that Kwacha has been devalued, citing a directive, although the new rate is still well short […]