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Malawi Kwacha Weakens to Lowest Since 1993 as Reserves Dwindle

Malawi’s kwacha, the worst-performing currency this year, dropped to its lowest in almost a decade as the Southern African country’s reserves continue to dwindle.

The kwacha retreated 3.6 percent to 360 a dollar at 5:20 p.m. in Lilongwe, the capital, according to data compiled by Bloomberg. It has fallen 7 percent this year and is at the weakest since June 22, 1993, when Bloomberg began compiling data on the currency.