Tags: Malawi Kwacha

MCCCI blames kwacha fall on panic buying

Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has blamed the recent sharp fall of the local currency on panic, saying foreign exchange is available to private sector players. MCCCI chief executive officer Chancellor Kaferapanjira, in an email interview, urged government to “talk and not mute” on important issues to create confidence on the…

Tobacco growers regret kwacha depreciation

Tobacco Association of Malawi (Tama), the country’s oldest and biggest tobacco growers’ body, has regretted the timing of the massive depreciation of the kwacha against the dollar, saying such a situation should have happened when the tobacco market was in progress. “If the depreciation happens when we are selling tobacco, we will not complain. But…

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,…

Chuka’s speaks on depreciating kwacha

In recent weeks, the local currency, the kwacha, has continued to show signs of ceding to major international currencies, notably the United States dollar. The depreciation of the kwacha or weakening in the value of the local currency is happening soon after the country has just closed its marketing season for tobacco, touted as the…

Weakening Malawi kwacha not strange—Chuka

Reserve Bank of Malawi (RBM) Governor Charles Chuka has downplayed the buzz over the recent weakening of kwacha against other major foreign currencies. The local currency has continued to lose ground in recent weeks, especially against to the dollar, trading around K440 from a rate of K390 mid this year. Some foreign exchange bureaus are…

Governor Chuka satisfied with kwacha performance

The Reserve Bank of Malawi (RBM) Governor Charles Chuka says he is pleased with the prevailing kwacha exchange rate against other major foreign reference currencies, arguing the local unit has corrected itself to reflect prevailing economic dynamics. Chuka told Business News on Friday at Sunbird Nkopola in Mangochi when asked to wrap-up the outcome of…