The Bank of Botswana has a special role in the market for selling and buying Pula in exchange for other currencies. In line with the exchange rate policy, the Bank offers to buy and sell foreign currency to the domestic banks at the exchange rate determined by the policy.
To do this, through the Financial Markets Department, the Bank publicises buy and sell rates for the currencies traded by the Bank (that is, South African rand, United States dollar, the British pound and the euro). These currencies are offered on a continuous basis every day throughout trading hours, and the exchange rates may vary during the day because of movements in the components of the currency basket to which the Pula is linked.
The rates are shown on the Thomson Reuters information system and the commercial banks call the dealers in the Financial Markets Department if they want to trade.
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