News : Currencies

Zimbabwe: Mnangagwa Vows Action Against Businesses Hiking Prices

[New Zimbabwe] President Emmerson Mnangagwa has vowed action against businesses which continue to hike their prices beyond the reach of poor locals. (AllAfrica)

Zimbabwe: 1 Million More Zimbabweans Added to Poor Bracket - World Bank

[New Zimbabwe] Extreme poverty in Zimbabwe has risen to 34 percent, with 1 million more citizens now added to the existing 4.7 million, World Bank (WB) said in a recent Poverty and Equity brief. (AllAfrica)

Zimbabwe: Bread Price Skyrockets, But Shortages Persist

[The Herald] The Consumer Rights Association says bread is now beyond the reach of many consumers as retailers this week increased the price of bread to almost $16 a loaf from around $10. (AllAfrica)

Zimbabwe: No Prospects of Return to a Multi-Currency Regime

[Zimbabwe Independent] Zimbabwe's central bank deputy governor Jesimen Chipika says the nation is grappling with symptomatic challenges instead of tackling structural problems in the economy as she that the multi-currency system will comeback. (AllAfrica)

Zimbabwe: The Impact of Cost of Living Trends On Wages and Salaries

[Zimbabwe Independent] The cost of living is on an upward trend. I present here a summary of key findings on cost of living and related factors and their impact on wages and salaries. (AllAfrica)

Zimbabwe: Inflation Down to 21%, Contradicts IMF, Says Central Bank

[New Zimbabwe] The Reserve Bank of Zimbabwe's latest monthly economic review shows that inflation decelerated to 21% in July this year, contradicting the Zimbabwe National Statistics Agency (ZIMSTAT) and International Monetary Fund (IMF) which have both reported higher inflationary figures. (AllAfrica)

Nigeria: N500, N1000 Denominations Most Commonly Counterfeited Banknotes - CBN

[Premium Times] The Central Bank of Nigeria (CBN) on Wednesday said that a total of 119,663 pieces of counterfeit notes with a nominal value of N98.82 million was recorded in 2018. (AllAfrica)

Zimbabwe: Monthly Inflation Eases

[The Herald] The month-on-month inflation rate for September shed 0,35 percentage points on the August rate to 17,72 percent in September, as inflationary pressures eased briefly on relative exchange rate stability. (AllAfrica)

Zimbabwe: Fuel Price Unchanged

[The Herald] The price of fuel has not been reviewed this week, for the first time in weeks, the Zimbabwe Energy Regulatory Authority (Zera) said yesterday. (AllAfrica)

Burundi: Burundi New Forex Laws Hurt Traders

[East African] As Burundi's central bank cracks down on forex bureaus that have been selling dollars at twice the official rate, small scale traders are finding it difficult to find the foreign currency. (AllAfrica)

Namibia: 'Forex Traders' Charged Over More Than U.S.$1,1 Million

[Namibian] TWO self-styled foreign exchange dealers who appeared in the Windhoek Magistrate's Court on four criminal charges yesterday are alleged to have received more than N$17 million from the public without being authorised to do so in terms of the Banking Institutions Act. (AllAfrica)

Zimbabwe: Inflation Battle: Everyone Must Play Ball

[The Herald] Zimbabwe's latest wave of price increases was unexpected considering the economic fundamentals and the stability that had been growing in the economy, but appears to have occurred because of four factors that each need to be tackled. (AllAfrica)

Zimbabwe: 'Price Increases, an Act By Ruling Party Enemies'

[New Zimbabwe] Vice President Kembo Mohadi says rapid price increases currently being experienced in the country were the works of Zanu PF's enemies keen to see Zimbabweans revolting against their leaders. (AllAfrica)

Zimbabwe: 80% of Zimbabweans Have No Savings - Survey

[Zimbabwe Independent] Narly 80% of Zimbabweans neither have savings nor an emergency fund to fall back on, a new report on workers' spending patterns says. (AllAfrica)

Zimbabwe: Banks Holding TBs Should Restructure for Forex Loans

[The Herald] Zimbabwe banks holding significant amounts of Treasury Bills must restructure their balance sheets before they can access lines of credit as lenders have little idea of the real value of the financial institutions following currency changes this year, analysts have said. (AllAfrica)

Zimbabwe: Finance Minister Ncube Taken to Court Over Inflation Figures

[Zimbabwe Independent] Finance Minister Mthuli Ncube (pictured) has been dragged to the High Court by National Social Security Authority (Nssa) employees who, in conjunction with members of the Zimbabwe Pension and Insurance Rights Trust (ZimPIRT), are seeking an order to declare as unconstitutional, null and void his unilateral decision to ban annualised inflation figures. (AllAfrica)

Zimbabwe: Govt's Forex Measures Dampen Investor Confidence

[Zimbabwe Independent] New foreign currency regulations by the Reserve Bank of Zimbabwe (RBZ) that will restrict employees from receiving their salaries in hard currency -- among a raft of other new changes -- will further weaken investor confidence amid policy inconsistencies in an economy teetering on the brink of collapse. (AllAfrica)

Zimbabwe: Pegging Goods in U.S. Dollar Behind Price Madness

[The Herald] In the 2007-2008 economic meltdown, the biggest economic threat to Zimbabwe was the sharp and sustained rise of basic commodity prices and other essential services. (AllAfrica)

Zimbabwe: Simba Brands Suffers Foreign Exchange Loss

[Zimbabwe Independent] Fast foods giant Simbisa Brands Limited suffered a net foreign exchange loss of ZW$2,7 million as it experienced technical challenges regarding compliance with the applicable accounting standards, following the currency change in the country from the United States dollar to the Zimbabwe dollar. (AllAfrica)

Zimbabwe: Absence of Illicit E-Money Trading Laws Shield Cash Barons

[263Chat] For most Zimbabweans hard pressed for cash which has become so scarce on the market, the sight of money changers on the streets is disheartening as they thrive on exorbitant cash premiums on mobile money users. (AllAfrica)

West Africa: ECOWAS Single Currency - Ghana's Interest Payment Eats up 24 Percent of Its Cash

[Observer] As the year 2020 comes closer for the fifteen-countries of the Economic Community Of West African States (ECOWAS) to form a single currency (ECO), proponents and pessimists are expressing their views. (AllAfrica)

Zimbabwe: Finance Minister Ncube Projects 10% Inflation Decline By Year End

[New Zimbabwe] Finance Minister, Mthuli Ncube says the inflation rate will end the year 2019 at 10% with an expectation that it will reduce further to a single digit by the end of 2020. (AllAfrica)

Zimbabwe: Stop Treating Illegal Forex Dealers With Kid Gloves

[The Herald] Last Friday, the Government gazetted yet another set of rules as part of measures to stifle those trading in any currency which is not the Zimbabwe dollar. (AllAfrica)

Zimbabwe: Mobile Money Transactions Jump

[The Herald] The number of mobile money transactions jumped 21 percent in the quarter to June 30, 2019, to 477,4 million on the growth of users and uses. (AllAfrica)

Nigeria: CBN Injects $8.287bn in Forex Market in Six Months

[This Day] The Central Bank of Nigeria (CBN) injected a total of $8.287 billion in the interbank foreign exchange (forex) market in the first six months of 2019. (AllAfrica)

Africa: Unicef Launches Cryptocurrency Fund

[Unicef] New York -UN Children's agency becomes first UN Organization to hold and make transactions in cryptocurrency (AllAfrica)

Gambia: New Currency Versus Old Currency

[Foroyaa] The member for Wuli East has raised a question of old currency being used side by side with the new currency. He asked whether this could not lead to increase in inflation. No answer has been given that could be considered to be satisfactory. (AllAfrica)

Zimbabwe: Women Criticise Finance Minister Ncube's Policies for Worsening Their Plight

[New Zimbabwe] Austerity measures and associated policies being implemented by Finance Minister Mthuli Ncube are plunging women and children into deep poverty due to lack of adequate social safety nets a an activist has said. (AllAfrica)

Zimbabwe: We'll Not Raid Forex Accounts - Reserve Bank

[The Herald] THE Reserve Bank of Zimbabwe (RBZ) says it has no plans to tamper with depositors' foreign currency accounts. (AllAfrica)

Liberia: Printing of New Ls$35 Billion Banknotes Backfires

[Observer] -Until Completion of CBL Reconstruction (AllAfrica)

Liberia: Weah Proposes Printing New Banknotes

[FrontPageAfrica] Monrovia -President George Weah has written the Legislature requesting the lawmakers to approve the printing of new Liberian banknotes in the tone of L$35 billion. The money, according to the President, will be infused into the economy when printed. (AllAfrica)