Monday, October 18, 2010

Mixed feelings greet prospects of Pula slide against Rand

According to the Mmegi Newspaper article, indications are that for the first time ever, the Pula could bite the dust against the South African Rand. This analysis is attributed to the spokesperson of the Bank of Botswana, Andrew Sesinyi.
The Botswana currency fetches only R1.04 for P1.00. From August 1976 when Botswana formally withdrew from the Rand Monetary Area (RMA) and introduced its own currency and pegged it to the US dollar at P1 = US$1.15, the Pula has never fallen below the Rand. The Pula was on a par with the Rand, which was also pegged to the US dollar at R1= US$1.15. Click here to read more...

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