Pula hits 16-year high against rand

Record highs: A stronger Pula means cheaper goods and services for Batswana in SA PIC: MBONGENI MGUNI
Record highs: A stronger Pula means cheaper goods and services for Batswana in SA PIC: MBONGENI MGUNI

The pula was valued at R1.44 on Monday, the strongest the local currency has been against its neighbour since January 2004, as global markets suffered a pounding from the coronavirus and plummeting oil prices.

Batswana took to social media as the week opened, marvelling at the sudden collapse in the value of the rand on Monday. According to historical Bank of Botswana opening rates, the last time the pula was stronger than on Monday was January 06, 2004 when it was measured at R1.47.

Panic over the sudden spread of the coronavirus outside China amidst rising infections and deaths, hit the global economy hard early on Monday, triggering huge drops in most major stock exchanges and currency markets.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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