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    Debswana sponsors BFA’s National First Division League with P3.9m 

    Debswana sponsors BFA’s National First Division League with P3.9m 

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      Debswana sponsors BFA’s National First Division League with P3.9m 

      Debswana sponsors BFA’s National First Division League with P3.9m 

      Ditlhokwe Tipped to Excel at Kaizer Chiefs

      Ditlhokwe Tipped to Excel at Kaizer Chiefs

      BCF Aims to Resuscitate Chess this Year

      BCF Aims to Resuscitate Chess this Year

      Tebogo’s Move to US on Hold

      “Don’t Panic,” Tebogo is advised as He Transits to Senior Level

      NSAs decry Absence of School Sports 

      NSAs decry Absence of School Sports 

      BCF fails to send Team to Continental Schools Chess Champs

      BCF fails to send Team to Continental Schools Chess Champs

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      America’s dollar, Botswana’s problem 

      Reports recently emerged that countries were prioritising currencies over economic growth. This was after the world’s reserve currency, the US Dollar, left a tail of destruction that affected the Pula in the latest of what the US has done several times over decades. Even so, BoB holds that its policy goal of a stable and effective exchange rate regime has been met and that any exchange rate determination that ignores economic fundamentals will not be sustainable. Staff Writer KITSO DICKSON reports

      mm by Kitso Dickson
      September 22, 2022
      in News
      Reading Time: 1 min read
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      America’s dollar, Botswana’s problem 

      Here is my salary! Close-up photo of a young girl in a yellow hoodie, smiling with her eyes, hiding her face behind big amount of money in her hands.

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      During the G-10 Rome meetings held in late 1971, then US Secretary to the Treasury, John Connelly, proclaimed: “The dollar is our currency, but it’s your problem.” That was decades ago, when he was speaking before a number of other countries’ finance ministers.

      This week, the Dollar index rose to a two-decade high after a decision by the Fed to hike interest rate by 75 basis points. Federal Reserve Chairman, Jerome Powell, has signalled more increases ahead, a trend which some experts argue will support the world’s reserve currency. By Thursday, the Pula was trading about P13.28 for every $1, up from P11 September last year.  

      Initially (1976), the Pula was stronger than the US dollar at P1=$1.15, and equivalent to the rand, according to the Bank of Botswana (BoB). But there have been changes to the Pula exchange rate regime over the years effective 1976 when the Pula was introduced after the country left the Rand Monetary Area. Dr. Seamogano Mosanako, the Head of Communications and Information Services at the Bank of Botswana, says the framework changes over the years have included adjustment of weights, introducing the basket, discreet revaluations and devaluations, and ultimately replacing discreet changes with the crawl mechanism to enhance predictability and to avoid destabilising large adjustments. 

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      Tags: Dr. Seamogano MosanakoS&P GlobalStatistics Botswana

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