{"id":54953,"date":"2017-10-12T11:02:08","date_gmt":"2017-10-12T09:02:08","guid":{"rendered":"http:\/\/www.times.mw\/?p=54953"},"modified":"2017-10-12T11:02:08","modified_gmt":"2017-10-12T09:02:08","slug":"forex-inflows-shrinking","status":"publish","type":"post","link":"https:\/\/archive.times.mw\/index.php\/2017\/10\/12\/forex-inflows-shrinking\/","title":{"rendered":"Forex inflows shrinking"},"content":{"rendered":"<p><strong>F<\/strong>oreign exchange inflows into the country drastically dropped by 63.8 percent from $100.1 million in July 2017 to $36.3 million in August, figures from the Reserve Bank of Malawi (RBM) have shown.<\/p>\n<p>The drop is attributed to a decline in foreign exchange purchases and swaps.<\/p>\n<p>The August 2017 foreign exchange inflow amount is 49 percent lower than the $71.4 million recorded in August 2016.<\/p>\n<p>The drop in inflows also led to a drop in the gross official reserves to $645 million as at the end of August 2017 from $698.3 million recorded in July 2017.<\/p>\n<p>Consequently, prospective import coverage dropped to 3.1 months from 3.3 months in the previous month, according to RBM.<\/p>\n<p>However, as at the end of last week, gross official reserves had substantially improved, rising to $726.79 million, representing 3.48 months of imports.<\/p>\n<p>Earlier, RBM expressed optimism that Malawi is not likely to experience the usual seasonal lean period in terms of foreign exchange availability, thereby cementing the current stability of the exchange rate.\u201d<\/p>\n<p>In its August Monthly Economic Review, RBM said foreign exchange purchases, however, dropped to $18.2 million from $41.9 recorded in the preceding month.<\/p>\n<p>Swaps shrunk to $6 million from $50 million recorded in July 2017.<\/p>\n<p>\u201cHowever, project funds increased to $11.8 million from $3.2 million,\u201d RBM indicated in the review.<\/p>\n<p>The central bank further said outlays of foreign exchange moderated to $73.3 million in August 2017 from $87.5 million in the previous month, and $81.8 million in August 2016.<\/p>\n<p>The outflows largely constituted sales to the market, according to RBM.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Foreign exchange inflows into the country drastically dropped by 63.8 percent from $100.1 million in July 2017 to $36.3 million in August, figures from the Reserve Bank of Malawi (RBM) have shown. The drop is attributed to a decline in foreign exchange purchases and swaps. The August 2017 foreign exchange inflow amount is 49 percent [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":27857,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-54953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/54953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=54953"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/54953\/revisions"}],"predecessor-version":[{"id":54956,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/54953\/revisions\/54956"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/27857"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=54953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=54953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=54953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}