Govt shields Pula from volatile Rand

Thursday, January 29, 2015

The Ministry of Finance and Development Planning (MFDP) has effected adjustments to the exchange rate regime in a move analysts believe is aimed at protecting the Pula’s value against the volatility of the Rand.

Under the crawling peg policy, the Bank of Botswana (BoB) manages the Pula’s value in a “basket of currencies” assigning weights to each currency. The bank uses the “crawling peg” system or regular precise adjustments, to appropriately review the Pula’s value.

The basket of currencies comprises the South African Rand (SAR) and the IMF’s Special Drawing Rights (SDR) consisting of the US Dollar, the Euro, the British Pound, and the Japanese Yen.

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