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Monday, May 7, 2012

New Official Exchange rate: Kwacha devalued

According to Reserve Bank of Malawi the new official exchange rate shows a devaluation of the following:
EUR322.0718328.5783
GBP399.3908407.4593
USD247.5000252.5000
ZAR31.694632.3349
 This could spell an end to black market!

3 comments:

samwale RSA said...

Good development though we have to endure some price hiking of commodities.
Thanks for updates.

DAN NKHONDE said...

Its a good move but bitter to the poor masses out there. But i hope the government has another strategy of bringing stability after the devaluation...lets wait n see

maso pasogolo said...

How can it be when our salaries remain the same. Midnight economist stop fooling us, yesterday you lied to us that prices will not go up.Soon after the official announcement most of the shops including game were closed to effect the 50% though the stock in the shop was already there. Lets admit this has been done and it will have a negative impact on us.