Tags: ADBs

Kwacha hits worst point, may trade at K525 by Dec

The kwacha hit its lowest point to the dollar since 2012 on Monday, with the middle rate falling to about K440 compared to about K430, the worst position last year, Reserve Bank of Malawi (RBM) figures show. Analysts have said this is a hurricane and have called upon authorities to act to avert serious danger,…

Malawi forex reserves drop 14 percent

Malawi’s gross foreign exchange reserves, official and private sector combined, dropped by about 14 percent to 3.86 months of import cover last week regardless of the ongoing tobacco sales, available figures have shown. Reserve Bank of Malawi (RBM) figures indicate that official forex reserves dropped to an equivalent 2.36 months on April 18 from 2.56…