Pula endures difficult 2022

Data released by the Bank of Botswana indicates that last year, the local currency fell by 8.1 percent against the US dollar, one of the single most important currencies for the local economy as it is the trading currency for rough diamonds.

While dropping against the greenback helps the export allure of diamonds for buyers in the United States, which is the world’s biggest market for the stones, the US dollar also gained significantly against other hard currencies during the year, which would impact the affordability of diamonds for buyers in those countries.