RBM Yet to Determine Market Value of Kwacha

The Reserve bank of Malawi (RBM) has not determined the market value of the kwacha following a forex auction on Friday.

Governor for the central bank, Dr. Wilson Banda, who was expected to inform the public details of the auction yesterday, said in a statement that the bank cannot make a determination now as only three out of the eight authorized dealers participated.

An economist Betchani Tchereni, however, wonders why the bank has not released such information on how much was offered and whether trading took place.

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Last modified on Wednesday, 18/01/2023

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