Malawi Currency Sees Continued Depreciation

Malawi Currency Sees Continued Depreciation

From Nyasa Times

The Malawi kwacha has depreciated over the last four weeks against some major international currencies at the official markets,  Reserve Bank of Malawi (RBM) official exchange rates indicate.

A currency trader, who preferred anonymity, said the Kwacha’s s depreciation was due to the market forces of demand and supply against major trading foreign currencies—the dollar, the pound sterling and the euro.

According to published reports, official figures indicate that the local unit retreated by three percent against the euro to the selling exchange rate at K462, down from K448.50, between August 23 and July 19.

Read more at nyasatimes.com