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Pula tanks to record lows against the dollar

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

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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