RBM GOVERNOR SAYS KWACHA WILL CONTINUE STABILAZING

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Reserve Bank of Malawi (RBM) Governor Charles Chuka has said the Kwacha will continue trading well with other major foreign currencies.

Chuka said this during a Monetary and Exchange rate Policy Conference held recently in Mangochi.

In his speech, Chuka said he is satisfied with how the Kwacha is currently trading against other Major foreign currency.

He further said this is helping greatly as people are able to do cross boarder trading compared from the time major devaluation happened to the Kwacha.

The kwacha is currently stack at 420-425 against the dollar.

The government of Malawi during the rain of former President Dr.Joyce Banda devalued the Kwacha by 50 percent following the pressure from donors and due to lack of foreign currencies.

This caused a lot of pressure among Malawians as prices of commodities at the market could rise anyhow.

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Robert Ngwira
Attended Our Future Private Secondary School in Rumphi from 2006-2009 Holder of Diploma in Journalism from Malawi Institute of Journalism (MIJ) Hobbies, reading newspapers, going out with friends, listening to radio and watching football. Email: info@faceofmalawi.com

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