Malawi Currency Drops 44% In Value Against US Dollar

Malawi's currency has lost nearly half its value against the US dollar, sparking concerns from some consumers in the southern African country that basic goods will soar in price. <br />The bank's 44% decrease was brought in to better reflect the kwacha price in different markets. <br />It is the second time in 18 months that Malawi, one of the poorest countries in the world, has significantly decreased the value of the kwacha in relation to the US currency. <br />Central Bank chief Wilson Banda says the most recent exchange rate adjustment was needed because there were still supply-demand imbalances in the currency market.<br /><br />This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at <a href="https://www.spreaker.com/show/4166630/advertisement">https://www.spreaker.com/show/4166630/advertisement</a>