Mixed feelings greet prospects of Pula slide against Rand

source: Mmegi

FRANCISTOWN: For the first time ever, the Pula could bite the dust against the South African Rand, a spokesperson of the Bank of Botswana, Andrew Sesinyi, has said in an interview.

Sesinyi, a retired civil servant and author who started working for BoB on a contract basis on September 20, was responding to a Mmegi inquiry.

The Botswana currency fetched only R1.o4 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 [continue reading]


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