Exchange rate spread widens

The gap between the offi­cial dol­lar rate and that on the par­al­lel mar­ket is now at K2,249, as the dol­lar trades at about K4,000 on the black mar­ket. This rep­res­ents a 128 per­cent spread and is eman­at­ing from acute forex scarcity in the coun­try. But the Reserve Bank of Malawi (RBM) says address­ing the scarcity requires con­cer­ted efforts. A desk research by The Daily Times found that the offi­cial exchange rate has been fixed since April 2024, a decision the IMF says has largely

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