Thursday, February 25, 2021
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

RBM revises kwacha exportation limit

by Orama Chiphwanya
12/06/2018
in Business News, Editors Pick
1 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

 

The Reserve Bank of Malawi (RBM) has revised the limit on the exportation of the kwacha to monitor the movement of cash as well as promote cross-border trade.

RelatedHeadlines

Budget deficit continues to widen—RBM figures

Budget deficit continues to widen—RBM figures

RBM remains firm on Inflation rate targetv

In a statement, RBM Governor Dalisto Kabambe said cross-border traders may now export kwacha equivalent of $5 000 (K3.6 million) for purchasing merchandise across the border with Mozambique, Zambia and Tanzania while travellers may export kwacha of not more than $100 (K73 000) for any other purposes.

KABAMBE | The Nation Online
Announced the changes: Kabambe

He said the kwacha exported for purposes of cross-border trade shall be declared with Malawi Revenue Authority (MRA) and Immigration Department authorities at the point of exit.

The new provision—Exchange Control Circular Number 01/2018—replaces the 2013 Exchange Control Circular Number 03/2013 which did not specify countries to which an equivalent of $5 000 was to be exported to for trading purposes.

In an interview, RBM spokesperson Mbane Ngwira said the move aims at monitoring movement of local currency.

“Earlier, the provision did not specify which countries traders are to use and carry that money to. We have had cases where people have been found with the local currency beyond the required amount but far from the designated countries.

“The emphasis on the development centres not only on promoting cross-border trading, but also movement of the local currency because we know people will still take large sums of money out of the country for other purposes other than the intended ones,” he said.

Previous Post

APM says good roads key to development

Next Post

Bank outlines economic risks

Related Posts

To present half-year performance: Mlusu
Business News

Budget deficit continues to widen—RBM figures

February 24, 2021
To present half-year performance: Mlusu
Business News

Budget deficit continues to widen—RBM figures

February 24, 2021
This year’s first crop estimate figures also show an increase in crops production
Business News

RBM remains firm on Inflation rate targetv

February 24, 2021
Next Post
NBM | The Nation Online

Bank outlines economic risks

Opinions and Columns

My Thought

Malawi needs fixing, not politicking

February 21, 2021
Political Uncensored

No longer at ease..

February 21, 2021
Emily Mkamanga

Discipline paramount in government

February 21, 2021
People’s Tribunal

Let OPC be standard for everyone to follow

February 21, 2021

Trending Stories

  • Co-chaired the task force: Phuka (L) and Mwanamvekha

    K780M Dodma Covid-19 feast

    0 shares
    Share 0 Tweet 0
  • Bushiri’s daughters blocked from flying out

    0 shares
    Share 0 Tweet 0
  • Censorship Board acts on ‘Aunt Nellie’ videos

    0 shares
    Share 0 Tweet 0
  • Convention In July 2023—DPP

    0 shares
    Share 0 Tweet 0
  • Mathanga, kunje Sue president, MEC

    0 shares
    Share 0 Tweet 0
  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2021 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.