Economy - Currency
  • WAMZ intensifies study on single currency process
    14 january 2005 23:33:00
    Accra- Ghana (PANA) -- Stakeholders of the West African Monetary Zone (WAMZ) are assessing member states to determine their preparedness toward the achievement of a second monetary zone for the English-speaking West African States. Full text...

  • Central Bank intervenes to save flagging DR Congo franc
    12 january 2005 20:17:00
    Kinshasa- RD Congo (PANA) -- The DR Congo Central Bank, BCC Wednesday announced the injection of some 12 million US dollars into the market to shore up the exchange rate of the Congolese franc against the American currency. Full text...

  • Nigerian Naira stable against US dollar
    08 january 2005 16:28:00
    Lagos- Nigeria (PANA) -- In spite of a lull in business activities this week, the Nigerian naira, remained stable against the US dollar at the official Dutch Auction System (DAS) segment of the foreign exchange market, trading at 132. Full text...

  • BCEAO denies extending collection of notes in Cote d'Ivoire
    04 january 2005 17:28:00
    Abidjan- Cote d'Ivoire (PANA) -- A senior Central Bank of West African States (BCEAO) official in Abidjan said in an interview published Tuesday by an Ivorian daily that his institution had no plans to extend the withdrawal of 1992 bank notes in northern Cote d'Ivoire currently under the control of rebels. Full text...

  • BCEAO withdraws 63 billion CFA francs worth of old notes in Niger
    29 december 2004 17:01:00
    Niamey- Niger (PANA) -- The Central Bank of West African States (BCEAO), has withdrawn from circulation about 63 billion CFA francs of its 1992 notes in Niger, according to Abdoulaye Soumana, an official of the sub-regional financial body that issued the bills. Full text...

  • Bank withdraws 94% of 1992 notes in Cote d'Ivoire
    27 december 2004 21:05:00
    Abidjan- Cote d'Ivoire (PANA) -- The Central Bank of West African States (BCEAO) has withdrawn 94% of bank notes issued in 1992 four days before the deadline, the sub-regional institution's national director, Mathurin Kablan Yao Saki, revealed on television in Abidjan Monday. Full text...

  • Nigerian Naira loses ground against dollar
    25 december 2004 11:04:00
    Lagos- Nigeria (PANA) -- The Nigerian naira closed at 132. Full text...

  • Nigerian currency rallies against US dollar
    11 december 2004 18:41:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the naira, rallied against the dollar at the official Dutch Auction System (DAS) segment of the Nigerian foreign exchange market this week, appreciating by 0. Full text...

  • Mauritanian authorities launch new bank notes
    01 december 2004 12:13:00
    Nouakchott- Mauritania (PANA) -- The phasing out Mauritanian banknotes in circulation since 1974 and the introduction of new ouguiya bills began Wednesday country-wide, official sources said here, affirming that the new notes were ultra-secure and smaller in size. Full text...

  • Supply outstrips demand at Nigerian forex market
    27 november 2004 17:54:00
    Lagos- Nigeria (PANA) -- Supply far outstripped demand at the two auctions of the official Dutch Auction System (DAS) segment of the Nigerian foreign exchange market held this week. Full text...

  • Mozambican farmers hit by shortage of coins
    26 november 2004 19:20:00
    Maputo- Mozambique (PANA) -- Mozambican peasants and marketers of agricultural products, including cashew nuts and grain, are complaining about shortage of coins and small denomination bank notes in the country's northern province of Nampula, national news agency, AIM reported Friday. Full text...

  • Inter-Bank exchange rate of the Cedi
    12 november 2004 19:44:00
    Accra- Ghana (PANA) -- Following are the average inter-bank exchange rates of major currencies against the cedi issued by the Ghana Association of Bankers on Friday: Currency Buying Selling US Dollar 8,937. Full text...

  • BCEAO pursues withdrawal of old banknotes
    11 november 2004 19:31:00
    Dakar- Senegal (PANA) -- The director of the Senegalese branch of the Central Bank of West African States (BCEAO), Seyni Ndiaye disclosed Wednesday that some 695 billion of old CFA banknotes issued in 1992 have already been withdrawn from circulation within the West African Economic and Monetary Union (UEMOA). Full text...

  • Nigerian naira falls slightly against US dollar
    30 october 2004 14:54:00
    Lagos- Nigeria (PANA) -- The Nigerian naira fell slightly to 132. Full text...

  • DR Congo Central Bank props exchange rate with US$25 million
    13 october 2004 20:27:00
    Kinshasa- DR Congo (PANA) -- The DR Congo Central Bank, BCC is providing commercial banks in the country with some 25 million US dollars to help stabilise the exchange rate market, the BCC said in a statement Wednesday. Full text...

  • Nigeria naira depreciates slightly against dollar
    10 october 2004 13:18:00
    Lagos- Nigeria (PANA) -- ZCZC \par\pard\ql\ltrpar\rtlch\ltrch\f0\fs20\b0\i0 . Full text...

  • West African bank withdraws 310 billion FCFA from market
    23 september 2004 20:09:00
    Paris- France (PANA) -- At least 310 billion FCFA (about US$500 million) have been withdrawn from circulation in the eight member countries of the Central Bank of West African States (BCEAO), its governor Charles Konan Banny revealed in Paris Thursday. Full text...

  • Franc Zone Finance Ministers to meet in Paris
    22 september 2004 20:29:00
    Paris- France (PANA) -- Economy and Finance Ministers of African countries within the Franc currency Zone are to meet their French counterpart Nicolas Sarkozy Thursday in Paris, official sources said Wednesday. Full text...

  • Nigerian Naira depreciates slightly against dollar
    18 september 2004 15:59:00
    Lagos- Nigeria (PANA) -- The Nigerian naira lost 0. Full text...

  • Experts caution against stronger Ugandan shilling
    16 september 2004 20:00:00
    Kampala- Uganda (PANA) -- The appreciation of the Ugandan shilling against the dollar and other major currencies has put a strain on the country's exports, with experts warning against the trend. Full text...

  • Low dollar supply forces fall of Zambian kwacha
    08 september 2004 15:33:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has depreciated marginally against the greenback following increased demand for hard currency from big companies against a backdrop of low supplies. Full text...

  • BCEAO withdraws former FCFA notes
    31 august 2004 23:31:00
    Dakar- Senegal (PANA) -- The Central Bank of West African States (BCEAO) will effective 1 January 2005 withdraw former CFA franc notes, Governor Charles Konan Banny announced Tuesday. Full text...

  • Mozambique to issue new banknote
    31 august 2004 19:47:00
    Maputo- Mozambique (PANA) -- Mozambique will Wednesday introduce two new banknote for 200,000 meticais (8. Full text...

  • Kenyan shillings strengthens after CBK's intervention
    27 august 2004 15:46:00
    Nairobi- Kenya (PANA) -- The Kenyan shilling exchange rate Friday stabilised at the 81-unit mark from historical lows of 83. Full text...

  • Zambian kwacha maintains relative stability
    27 august 2004 15:28:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha currency maintained relative stability against the US dollar throughout the week as major traders on the foreign exchange market waited for the local unit to retrace its recent slide back to the long held position of 4,780 units to the greenback. Full text...

  • Kenyan shilling flounders
    26 august 2004 10:42:00
    Nairobi- Kenya (PANA) -- The Central Bank of Kenya (CBK) stepped in Wednesday to save a weakening Shilling as the local currency exchanged at a ten-year low of 82. Full text...

  • Zambian Kwacha depreciates against US dollar
    24 august 2004 16:36:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha opened trading Tuesday 0. Full text...

  • Nigerian Naira stable against US dollar
    21 august 2004 14:12:00
    Lagos- Nigeria (PANA) -- The Nigerian Naira was stable against the US dollar at the two auctions of the official Dutch Auction System (DAS) segment of the foreign exchange market this week, trading at 132. Full text...

  • Bank of Uganda withdraws vulnerable bank notes
    16 august 2004 20:32:00
    Kampala- Uganda (PANA) -- The business community in Uganda has welcomed the gradual withdraw from circulation, of 5,000 and 10,000 shilling bank notes known to be highly vulnerable to counterfeiting. Full text...

  • Demand for forex falls in Nigeria
    07 august 2004 14:19:00
    Lagos- Nigeria (PANA) -- Demand for foreign exchange dropped at the official Dutch Auction System (DAS) segment of the Nigerian foreign exchange market this week, with 182. Full text...

  • CBN mops 62 billion Naira from Nigerian financial system
    07 august 2004 12:50:00
    Lagos- Nigeria (PANA) -- Nigeria's Central Bank, CBN, mopped up some 62. Full text...

  • South African Reserve Bank to issue new commemorative coin
    27 july 2004 21:24:00
    Johannesburg- South Africa (PANA) -- The South African Reserve Bank announced Tuesday it would issue a special two-rand coin 2 August to commemorate 10 years of democracy in the country. Full text...

  • Nigerian naira depreciates further against US dollar
    24 july 2004 14:24:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the naira, continued its depreciation against the US dollar at the official Dutch Auction System (DAS) segment of the Nigerian foreign exchange market this week, closing at 132. Full text...

  • CFA franc quoted anew in Mauritania
    15 july 2004 11:46:00
    Nouakchott- Mauritania (PANA) -- The West African currency, the CFA franc, has been quoted anew at the Central Bank of Mauritania, primary banks and the exchange bureaux. Full text...

  • Bank of Uganda helps dollar gain against shilling
    14 july 2004 20:37:00
    Kampala- Uganda (PANA) -- The dollar gained dismal weight against the Uganda shilling following a double buying intervention by the Bank of Uganda (BOU) to keep stability in the money market that has suffered mainly demand shocks since last week. Full text...

  • Mauritania to hold currency talks with CFA zone
    29 june 2004 10:57:00
    Nouakchott- Mauritania (PANA) -- Mauritania wants to hold negotiations with CFA zone countries to find a solution to the exchange rate problems of its national Ouguiya currency, official sources told PANA Tuesday. Full text...

  • Mauritania maintains Franc CFA as legal tender
    17 june 2004 22:50:00
    Nouakchott- Mauritania (PANA) -- Mauritania will not ban the franc CFA as a legal tender, the country's information minister and government spokesman Hamoud Ould Abdy stated here Wednesday. Full text...

  • Disparities delay single ECOWAS currency
    16 june 2004 23:45:00
    Dakar- Senegal (PANA) -- The governor of the Central Bank of West African States (BCEAO), Charles Konan Banny regretted Wednesday in Dakar that there were insufficient breakthroughs recorded in the necessary convergence of ECOWAS economies as the deadline approaches for the coming into being of a single currency for the sub-region. Full text...

  • Apex bank governor says SPLA/M currency violates accord
    16 june 2004 16:25:00
    Khartoum- Sudan (PANA) -- Central Bank Governor Saber Mohammed Alhassan has described the printing of a currency by the Sudan People's Liberation Army/Movement (SPLA/M) as a violation of the peace accord signed between Khartoum and the rebels to end Africa's longest running civil war. Full text...

  • Rwanda issued new 5,000 Franc banknote
    14 june 2004 21:05:00
    Kigali- Rwanda (PANA) -- Rwanda National Bank (BNR) has issued a new legal tender of 5,000 francs (about $9) which went into circulation at the weekend. Full text...

  • Mauritanian Ouguiya gains against the Euro
    10 june 2004 19:10:00
    Nouakchott- Mauritania (PANA) -- The Mauritanian currency, the Ouguiya recorded a 24 percent gain against the Euro, exchanging Thursday at 324 Ouguiyas to the euro, as against 424 Ouguiyas by the close of last week. Full text...

  • Nigerian currency appreciates against US dollar
    05 june 2004 12:43:00
    Lagos- Nigeria (PANA) -- Nigerian currency, the naira, appreciated by 0. Full text...

  • Zambian kwacha buckles under pressure from importers
    02 june 2004 12:51:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha was on Wednesday expected to depreciate to a new low of about 4,800 units to the US dollar at the close of business, in the face of intense pressure from importers. Full text...

  • Demand for forex drops in Nigeria
    29 may 2004 15:34:00
    Lagos- Nigeria (PANA) -- Demand for foreign exchange dropped at the official Dutch Auction System (DAS) segment of Nigeria's foreign exchange market this week with 231. Full text...

  • Zimbabwe moves to harness foreign exchange from citizens abroad
    26 may 2004 21:23:00
    Harare- Zimbabwe (PANA) -- The central bank in Zimbabwe Wednesday launched a campaign to attract foreign currency remittances from an estimated 3. Full text...

  • Mauritian foreign reserve up
    21 may 2004 17:42:00
    Port-Louis- Mauritius (PANA) -- Mauritian foreign reserve has risen to 1. Full text...

  • Nigerian Naira picks up against US dollar
    15 may 2004 15:48:00
    Lagos- Nigeria (PANA) -- The Nigerian Naira appreciated against the US dollar at the last session of the official Dutch Auction System (DAS) segment of the foreign exchange market this week, closing at 133. Full text...

  • Five ECOWAS countries to adopt ECO currency in 2005
    10 may 2004 20:19:00
    Accra- Ghana(PANA) -- Five ECOWAS countries are to adopt the "ECO" currency as a common legal tender by 1 July 2005, a Ghanaian official said Monday. Full text...

  • Ugandan currency pushes against greenback
    08 may 2004 17:45:00
    Kampala- Uganda (PANA) -- The Ugandan shilling appreciated against the greenback during this week trading at 1,890/1,906 shillings to the dollar as compared to 1,906/1,912 shillings that bought one dollar last week. Full text...

  • Demand for Forex increases in Nigeria
    08 may 2004 15:52:00
    Lagos- Nigeria (PANA) -- There was an increased demand for foreign exchange at the official Dutch Auction System (DAS) segment of the Nigerian foreign exchange market this week as a total of $259. Full text...

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