This decline is, however, still way off a low of 28.6829 it reached on 1 November, more than a month after the local currency was devalued from 14:1 to nearly 25:1 on 27 September.
The fall coincided with the payment of bonuses to civil servants which has been staggered for two months, meaning that the local currency could be under pressure until the end of the festive season as civil servants would be in a scramble to get US dollars as a store of value.
The black market rate seems to be stable at 35-40:1, though one of the websites that tracks the exchange rates has not been updated for a week.
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