The Namibia dollar (NAD) has continued to trade at a low rate against the United States dollar (USD) since the beginning of the year.
The latest data by the Bank of Namibia shows that US$1 was equivalent to N$15.815.
Because Namibia pegs the NAD 1:1 to the South African rand (ZAR), much of the long-run exchange rate behaviour is tied to USD to ZAR movements.
On Thursday, following the pattern of the ZAR, Namibia’s currency traded at N$15.65 to the USD, the lowest recorded in over four years. This came after another low of N$15.70.
The United States Federal Reserve last week decided not to cut its repo rate during the repo rate announcements.
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