BOTSWANA PLANS TO DEVALUE CURRENCY AGAIN TO STIMULATE EXPORTS

BOTSWANA PLANS TO DEVALUE CURRENCY AGAIN TO STIMULATE EXPORTS

Recently, the Bank of Botswana announced it will allow the pula to weaken as much as 2.76 per cent against a basket of other currencies this year, more than the initial target of 1.51 per cent in order to boost exports. The pula has already weakened 3.35 per cent against the US dollar year to date, making it the fifth worst-performing currency in Africa.