Botswana: Pula Firm Against the Rand May 2, 2008
Posted by malibusac in Currency News.Tags: Botswana: Pula Firm Against the Rand
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The pula has made a firm 8.1 percent gain against the rand on a year-to-date basis on the back of the continued fall of the South African currency on international foreign exchange markets.
The development is a reversal of the trend of previous years during which the pula continuously lost value against the rand and all other major trading partners’ currencies except the US dollar due to Botswana’s crawling peg exchange rate regime. While the pula is gaining against the rand, it has been losing ground against all other major currencies since January, depreciating by 9.5 percent against the US dollar.
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