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US dollar strength threatens pump price recovery

Unsteady times: The recent reduction in global crude prices 
could be undone by the stronger US dollar PIC: MORERI SEJAKGOMO
Unsteady times: The recent reduction in global crude prices could be undone by the stronger US dollar PIC: MORERI SEJAKGOMO

The United States dollar’s record strength against the pula this month, is threatening to undo the improvement in local retail pump prices, which were recently decreased due to lower costs of global crude oil.

On Wednesday the dollar, the currency in which global oil is transacted, reached P13.42 according to the Bank of Botswana website, possibly an all-time high according to available records.

The peak came after weeks of strengthening during which the US dollar has frequently traded above P13 to the pula.

Editor's Comment
Consult, get buy-ins first for 6 to 6 policy, Hon Minister

While the minister is of the view that the proposal would have significant positive economic impact, the entertainment industry players believe otherwise. The issue has over the weeks become a hot potato. But what is of essence right now is that the country needs liberal ideas to move in the right direction While opening up the economy may sound quite interesting to the ear, rolling out extended trading hours through pilot programmes without...

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