馃嚙馃嚰BotswanaSouthern Africa
Country's foreign exchange reserves reach P56 billion in March, highest since October 2024
via Mmegi1 min read
The country's foreign exchange reserves increased to approximately P56 billion in March, marking the highest level since October 2024. This improvement suggests an increase in inflows and the impact of policy changes, including exchange rate adjustments. In March 2024, the reserves stood at about P46.4 billion. The Bank of Botswana's preliminary data indicates a general upward trend, with reserves rising from P55.3 billion in February to P56 billion in March. The Pula Fund, a savings instrument, was valued at P29.1 billion in March, up from P24.5 billion a year prior. The Government Investment Account GIA, which is the government's share of the Pula Fund, reached P9.1 billion in March, compared to P7 billion in March 2025. The GIA is used to fund various government needs and support import bills. Its balance fluctuates based on the surplus or deficit of the Government Remittances Account GRA, the government's main revenue account. When the GRA's balance falls below a certain level, withdrawals are made from the GIA. Due to a downturn in the diamond industry and weaker alternative revenue sources, the GIA has increasingly been used to supplement the GRA.
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This summary was AI-generated from a story originally published by Mmegi.
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