Mmegi

Pula exchange framework largely maintained

Ear to the ground: Timuno PIC: MORERI SEJAKGOMO
Ear to the ground: Timuno PIC: MORERI SEJAKGOMO

The Ministry of Finance and the Bank of Botswana have announced a largely unchanged foreign exchange framework, maintaining the July revisions and only making an adjustment designed to benefit exporters converting foreign currency to Pula.

By law, authorities revise the Pula exchange rate framework twice a year, in June/July and December, basing their decision on factors such as the levels of the foreign exchange reserves, inflation in trading partner countries and others.

July changes to the framework triggered economy-wide price hikes, as the downward rate of crawl of the Pula was increased, while the margins banks pay for accessing foreign currency from the central bank were increased.

Editor's Comment
Ramogapi & Co should clear the Bonno confusion

According to a report elsewhere in this publication, various district councils announced that a one-bedroom home now costs over P130,000 more, a near-unthinkable 32% increase. This isn't just a minor adjustment, but a devastating blow to the dream of affordable home ownership for ordinary citizens.What is most alarming is not just the scale of the increase, but the profound confusion it has exposed. Minister Ramogapi has publicly...

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