15
August

The Malawi Bureau of Standards (MBS) has destroyed at least 13 thousand litres of liquor in plastic bottles which was impounded from Jai Sai investments in Lilongwe.

15
August

Super Sakuwa Steel Limited says it is geared to promoting carpenters and builders in the country.

11
August

Telekom Networks Malawi (TNM) has partnered with Azam TV to allow customers to pay monthly subscription through TNM’s mobile money platform, Mpamba.

11
August

Forex Reserve now at 3.33 months

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Published in Business
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Recent Reserve Bank of Malawi financial report indicates that gross official reserves are now at 8694.30 million (K506.8 Billion) which is equivalent of 3.33 months import cover.


The increase in the foreign exchange reserves is against the background of a stable Kwacha which remained so since December last year, trading at around K734 to a dollar.


In an interview, RMB publicist Mbane Ngwira said the Central Bank has been building reserves to around three months of import cover and to achieve the feat, it aims at having excess liquidity at zero as this is what brings about the demand for foreign exchange.


Recently Alick Nyasulu the economic statistician said the current economic underpinnings and government dealings may lead to an increase in reserve, which might also lead to a strong Kwacha.

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