Citi Sees Botswana Devaluing Currency Again as Diamond Prices Slump
The Bank of Botswana, earlier this month announced it will allow the pula to weaken as much as 2.76% against a basket of other currencies this year, more than the initial target of 1.51% in order to boost exports. The pula has already weakened 3.35% against the US dollar year to date, making it the fifth worst-performing currency in Africa, according to data compiled by Bloomberg.
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