{"id":41180,"date":"2023-12-29T09:28:34","date_gmt":"2023-12-29T09:28:34","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-to-weaken-currency-by-1-51-in-2024-due-to-inflation"},"modified":"2023-12-29T09:53:18","modified_gmt":"2023-12-29T09:53:18","slug":"botswana-to-weaken-currency-by-1-51-in-2024-due-to-inflation","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-to-weaken-currency-by-1-51-in-2024-due-to-inflation","title":{"rendered":"Botswana to Weaken Currency by 1.51% in 2024 Due to Inflation"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Botswana will allow its currency to weaken by 1.51% against a basket of other units in 2024 as it expects local inflation will be more elevated than price growth in the economies of its trading partners. <\/b><\/p>\n

The so-called annual downward crawl \u2014 which matches last year\u2019s rate \u2014 will happen through small, daily adjustments that would equal 1.51% over the year through December, the Finance Ministry said in a statement Thursday.<\/p>\n

The need for a downward adjustment in the pula \u201cis a reflection of weak production capacity and productivity of the economy,\u201d the ministry said. \u201cIt is also inflationary, ultimately affecting price competitiveness.\u201d<\/p>\n

Since 2005, Botswana has used what it terms a crawling peg to control exchange-rate policy.<\/p>\n

The pula is fixed to a basket of foreign currencies, with South Africa\u2019s rand comprising 45% and the rest being International Monetary Fund reserves known as special drawing rights. SDRs comprise the US dollar, British pound, euro, yen and renminbi. The southern African nation then applies an annual crawl rate to the currency.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Botswana will allow its currency to weaken by 1.51% against a basket of other units in 2024 as it expects local inflation will be more elevated than price growth in the economies of its trading partners. The so-called annual downward crawl \u2014 which matches last year\u2019s rate \u2014 will happen through small, […]<\/p>\n","protected":false},"author":84,"featured_media":41179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[233,237,234],"class_list":["post-41180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nBotswana to Weaken Currency by 1.51% in 2024 Due to Inflation - Botswana<\/title>\n<meta name=\"description\" content=\"Botswana will allow its currency to weaken by 1.51% against a basket of other units in 2024 as it expects local infla ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-to-weaken-currency-by-1-51-in-2024-due-to-inflation\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Botswana to Weaken Currency by 1.51% in 2024 Due to Inflation\" \/>\n<meta property=\"og:description\" content=\"Botswana will allow its currency to weaken by 1.51% against a basket of other units in 2024 as it expects local infla ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-to-weaken-currency-by-1-51-in-2024-due-to-inflation\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-29T09:28:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-29T09:53:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/12\/sm_1703830837.997585.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-to-weaken-currency-by-1-51-in-2024-due-to-inflation#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-to-weaken-currency-by-1-51-in-2024-due-to-inflation\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Botswana to Weaken Currency by 1.51% in 2024 Due to Inflation\",\"datePublished\":\"2023-12-29T09:28:34+00:00\",\"dateModified\":\"2023-12-29T09:53:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-to-weaken-currency-by-1-51-in-2024-due-to-inflation\"},\"wordCount\":187,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-to-weaken-currency-by-1-51-in-2024-due-to-inflation#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/12\/sm_1703830837.997585.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-to-weaken-currency-by-1-51-in-2024-due-to-inflation#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-to-weaken-currency-by-1-51-in-2024-due-to-inflation\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-to-weaken-currency-by-1-51-in-2024-due-to-inflation\",\"name\":\"Botswana to Weaken Currency by 1.51% in 2024 Due to Inflation - 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