Gov�t tweaks exchange rate to boost exports

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In a bid to get more value from diamond exports as well as contain the country’s import bill, government has made adjustments to the crawling peg exchange rate regime by reducing the weight of the South African rand in the basket of currencies that determine the value of the pula.

After the local currency gained value against all major currencies in 2016, monetary authorities have also moved to reduce the rate at which the pula gains value in an effort to maintain export competitiveness.

Acting permanent secretary in the Ministry of Finance and Economic Development, Cornelius Dekop said effective from January 01, 2017, the weight of the rand in the pula basket of currencies has been reduced to 45% from 50%.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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