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Pula hits historic low against US dollar

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Soaring high:Trump’s ‘America First’ policies are driving the dollar up even before he begins his presidency
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The local currency sank to its lowest ever point against the US dollar this week, breaching the P14/USD point, as the greenback globally rose to highs ahead of the return of President-elect Donald Trump to the White House.

According to Bank of Botswana data, the pula reached P14.14 against the dollar on Monday, the lowest level the local currency has dropped to against the greenback, before recovering slightly to end the day at P14.05 by press time on Wednesday.

The central bank uses midmarket rates, meaning local currency dealers such as banks were quoting higher rates for those seeking the dollar this week.

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