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Malawi: Is Black Market Forex On Its Deathbed? Chakwera's Intervention Sends Parallel Market Rates Tumbling

Summary by allAfrica
A major shift is underway in Malawi's foreign exchange (forex) market, as President Lazarus Chakwera's government interventions appear to have dealt a significant blow to the black market trade. The once-soaring parallel market exchange rate, which hit an all-time high of K5,000 per US dollar, has now slumped to around K3,000 within a matter of days.

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allAfricaallAfrica

Malawi: Is Black Market Forex On Its Deathbed? Chakwera's Intervention Sends Parallel Market Rates Tumbling

A major shift is underway in Malawi's foreign exchange (forex) market, as President Lazarus Chakwera's government interventions appear to have dealt a significant blow to the black market trade. The once-soaring parallel market exchange rate, which hit an all-time high of K5,000 per US dollar, has now slumped to around K3,000 within a matter of days.

·South Africa
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247malawi.com247malawi.com

Chakwera’s intervention sends parallel market rates tumbling

By Burnett Munthali A major shift has taken place in Malawi’s foreign exchange (forex) market following government interventions led by President Lazarus Chakwera. The interventions have significantly impacted the black market trade, which had seen the parallel market exchange rate soaring to unprecedented levels. At its peak, the black market rate reached an all-time high […]

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Nyasa TimesNyasa Times

Is Black Market Forex on Its Deathbed? Chakwera's Intervention Sends Parallel Market Rates Tumbling

A major shift is underway in Malawi’s foreign exchange (forex) market, as President Lazarus Chakwera’s government interventions appear to have dealt a significant blow to the black market trade. The once-soaring parallel market exchange rate, which hit an all-time high of K5,000 per US dollar, has now slumped to around K3,000 within a matter of […] The post Is Black Market Forex on Its Deathbed? Chakwera’s Intervention Sends Parallel Market Rate…

·Malawi
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MoneycontrolMoneycontrol

Government in 'wait and watch mode' as markets continue to tumble

With the Sensex down over 12,700 points from its peak,  there is growing clamour for a cut in or even abolishing of capital gains tax, but the government is expecting the fall in the equity markets to end in the next six weeks or so. It is unlikely to intervene currently as markets are falling because of global uncertainty.

·India
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Moneycontrol broke the news in India on Monday, March 3, 2025.
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