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Pula tanks to record lows against the dollar

Friday, July 15, 2022 | 850 Views |

Ear to the ground: The central bank keeps tabs on the local currency’s value PIC: PHATSIMO KAPENG

The local currency sank to possibly its lowest ever level against the dollar this week, stopping shy of USD/P13, after the greenback surged against global currencies, BusinessWeek has established.

Bank of Botswana indicates that the pula began the week at USD/P12.67, before dropping further to USD/P12.77 on Tuesday and then recovering marginally to USD/P12.72 by Wednesday press time. The pula began the year at P11.79 against the dollar, having shed nearly nine percent against the greenback in 2021.

Prior to this week’s fall, available data indicates that the pula had already lost 8.3 percent against the dollar since January.

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