Burundi Unifies Exchange Rates, Denies Devaluation
In Burundi, the US dollar has two different prices. The official rate, set by the Banque de la République du Burundi (BRB), is around 2,900 Burundian francs, while the informal market rate is nearly double. This disparity affects importers, who pay the higher rate daily.
The government has recently unified the exchange rates, a move that has been misunderstood as a devaluation. However, according to officials, the unification of exchange rates is not a devaluation. The exact details of the unification and its implications on the economy are not specified in the available information.
Article source: iwacu-burundi.org | Image credit: IWACU
18-Year-Old Missing Barrackpore Man Identified as Intruder Shot by Prison Officer in Freeport Home Invasion
Plumpy Boss, Medz Boss Join Roger Alexander In Tunapuna To Urge Graduates To Choose Peace
Starbucks closes 250 North American stores and lays off hundreds this week.
Victor Roberts warns PNM faction to stop attacking leader Penny Beckles in new video.
Marvin Gonzales Accuses Prime Minister Of Using Racial Division To Distract Citizens From Bill
Kamla Makes Warm Delcy Embrace Cover Photo As Trinidad And Venezuela Relations Enter New Era