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MSB predicts a stable, stronger Kwacha on good tobacco proceeds 

Malawi Savings Bank (MSB) says economic outlook for the upcoming months looks promising . . .

The bank said in its Market Report for June released on Thursday the foreign exchange situation is likely to improve further attributable to the on going tobacco-marketing season and improved prices. . . .

MSB said the favourable situation is likely to continue in the short and medium term as the economy passes through the much more favourable marketing season for tobacco.

According to the Tobacco Control Commission, proceeds from tobacco sales as at 27th June 2008 had cumulated to US$251.4 million, with volumes sold amounting to almost 106 million kilogrammes.

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