Currencies

News : Currencies

Cost of funds in the interbank money market dropped sharply by 37.75 per cent following the influx of about N451 billion statutory allocations to the three tiers of government for July. (AllAfrica)

A strong shilling against the US dollar, rising inflation and the low demand for treasury bills affected trading on the Uganda Securities Exchange causing a decline in the number of shares traded and a turnover realised during the second quarter of 2008. (AllAfrica)

AS the foreign currency frenzy continues to spread across the country, residents of Beitbridge town seem to have taken it too far as they are even demanding forex for commodities such as firewood. (AllAfrica)

MIDLANDS Governor Cde Cephas Msipa yesterday urged farmers to ignore "urban sharks" going around promising to buy their produce in foreign currency. (AllAfrica)

Where in the world could you be a multi-billionaire and still go hungry? The answer is, of course, Zimbabwe. (AllAfrica)

As inflation continues to be a big issue of policy concern, Bank of Uganda has introduced new monetary policy tool to control inflation that has more than doubled the government target of controlling it at 5 per cent. (AllAfrica)

In the face of looming hardship faced by a population of about 3.5 million inhabitants, the Central Bank of Liberia has disclosed that currency in circulation, exclusively in Liberian dollars amounted to L$3.3 billion during the first quarter (January-March) 2008. (AllAfrica)

Darkness loomed around the greenback amid persistent fears over the health of the US financial institutions. These fears were further reinforced by the grim assessment made by the Federal Reserve on the sector. (AllAfrica)

Leading members of President Robert Mugabe's regime and their business allies are transferring tens of millions of US dollars out of Zimbabwe to safe havens to avoid the threat of tightening sanctions and the possibility of financial scrutiny by a power-sharing government. (AllAfrica)

Senior figures in Mugabe's regime are transferring millions of US dollars out of the country, amid growing fears of financial scrutiny by a possible new government or expanded targeted sanctions if the crisis remains unresolved. (AllAfrica)

Zimbabwe's economic decline was emphasized Monday when its currency slumped to an all time low of trading 1 British pound to Z$1,2 trillion. (AllAfrica)

Two years since Central Bank of Nigeria's (CBN) deadline to stop printing all naira notes abroad, Nigeria is still spending billions of Naira to import minted naira notes, Daily Trust learnt at the weekend. (AllAfrica)

In Zimbabwe, inflation has risen so high that armfuls of cash are needed to buy even the most basic items of food. The inflation rate is an incomprehensible 2,200,000% and the country's economy has all but collapsed. (AllAfrica)

GOODNESS knows what will happen to our beloved country in the near future, but can this horrible hyper-inflation last much longer? (AllAfrica)

LAST month's government election promises are already beginning to sound hollow: For many Zimbabweans, daily survival has become an unending nightmare, The Standard can report. (AllAfrica)

THE National Incomes and Pricing Commission says it is illegal for schools and colleges to charge fees in foreign currency. (AllAfrica)

THE weakening of the Zimbabwe dollar against major currencies has been a reflection of the rise of real prices of commodities relative to prices of the same goods in US dollars. (AllAfrica)

The privatisation of Safaricom may have put the Kenyan capital market on the world map, but this close attention by global hedge funds and security traders is coming at a heavy price. (AllAfrica)

Citizens in the district of Morrumbala, in the central Mozambican province of Zambezia, now have enough confidence in the Mozambican currency, the metical, to use it in their transactions, rather than the kwacha, the currency of neighbouring Malawi. (AllAfrica)

ZIMBABWEANS are now scrambling for foreign currencies for survival as hyperinflation continues to shred Zimbabwe's economy. (AllAfrica)

The Central Bank of Nigeria (CBN) yesterday assured that the proposed outsourcing of currency processing and distribution does not, in any way, mean the abdication of its responsibilities. (AllAfrica)

Business has never been this bad, said Nomathemba Nkomo. (AllAfrica)

The onset of the high season in the tourism and horticultural sector is expected to lift the performance of the Kenyan shilling. (AllAfrica)

A Harare property owner yesterday collapsed in court after being slapped with a one-year jail term for charging rentals in foreign currency. (AllAfrica)

SPECULATORS are not leaving anything to chance. They have even driven higher the rate of inflation in hard currency terms. (AllAfrica)

POLICE in Masvingo have arrested 69 illegal foreign currency and basic commodity dealers in an ongoing crackdown aimed at restoring sanity in the country's oldest town. (AllAfrica)

The Economist Intelligence Unit has revised its Rwanda inflation forecasts for 2008 by about two percentage points to 9.5%, RNA reports. (AllAfrica)

The controversial plan to give the contract to outsource the Naira to the private sector dates back to the early days of Professor Charles Soludo at the Central Bank of Nigeria. (AllAfrica)

THE cost of living for consumers in Bulawayo has become more expensive as most businesses are now charging for their goods and services in foreign currency, as the fragile Zimbabwean dollar continues to tumble against major currencies. (AllAfrica)

TWO Harare property owners have been arrested for allegedly charging rentals and services in foreign currency while two bank employees were also nabbed for allegedly directing people who wanted to change their foreign currency in banks to the parallel market. (AllAfrica)

THE inter bank money market last week witnessed an unprecedented scramble for treasury bills even as the Central Bank of Nigeria rolled out a deluge of bills to mop up N408 billion from the market. (AllAfrica)