Economy - Currency
  • Opposition requests govt to scrap exchange controls
    05 december 2003 13:04:00
    Johannesburg- South Africa (PANA) -- Opposition leader Tony Leon of the Democratic Alliance (DA) has called on government to drop monetary exchange controls, arguing that the exchange rate would not reflect the true market price of the rand as long as controls were in place. Full text...

  • Nigerian currency stable against dollar
    29 november 2003 16:57:00
    Lagos- Nigeria (PANA) -- After five weeks of steady depreciation, Nigeria's naira currency stabilised against the dollar this week at the Dutch Auction System (DAS) segment of the foreign exchange market, closing at 138. Full text...

  • Uganda apex bank introduces Shs50,000 banknote
    28 november 2003 12:10:00
    Kampala- Uganda (PANA) -- Uganda Central Bank (BOU) has introduced its controversial 50,000 Shillings banknote despite threats by parliament to stop its circulation over fears the denomination of the bill could create economic havoc. Full text...

  • Worn bank notes flood Goma in DR Congo
    27 november 2003 17:53:00
    Goma- DR Congo (PANA) -- Worn bills of DR Congo's Francs (CF) have flooded the currency market in Goma, the former stronghold of the pro-Rwanda rebel Congolese Rally for Democracy (RCD), even after government had announced the release of new bills. Full text...

  • Kufuor wants West African Central Bank in Accra
    26 november 2003 19:09:00
    Accra- Ghana (PANA) -- Ghanaian President John Kufuor Wednesday said the headquarters of the envisaged West African Central Bank should be sited in Accra. Full text...

  • Kenyan shilling experiences short-lived gains
    22 november 2003 18:05:00
    Nairobi- Kenya (PANA) -- Remarkable gains by the Kenyan shilling against international currencies in the week to 11 November were short-lived a week later, reflecting the weakening of the greenback against European currencies, the Central Bank of Kenya (CBK) disclosed here. Full text...

  • Nigerian currency continues slide against US dollar
    22 november 2003 16:44:00
    Lagos- Nigeria (PANA) -- Nigeria's naira currency continued its slide against the US dollar at the second session of the Dutch Auction System (DAS) segment of the country's foreign exchange market this week, closing at 138. Full text...

  • Closing rates of the Ghana cedi
    21 november 2003 19:45:00
    Accra- Ghana (PANA) -- The following are the average inter-bank exchange rates of major currencies against the cedi issued by the Ghana Association of Bankers for the week ending Friday, November 21, 2003. Full text...

  • Zambian kwacha maintains month-long stability
    21 november 2003 14:47:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha was Friday trading at 4,720 units (buy) and 4,770 units (sell) to the US dollar in a month-long stint in which the local currency hardly went above 4,790 kwacha (offer) and 4,710 kwacha (bid) to the greenback. Full text...

  • Ugandan shilling still stable against US dollar
    20 november 2003 14:49:00
    Kampala- Uganda (PANA) -- Improved inflow of international currencies, notably the US green back, amidst subdued demand helped Uganda shillings register relative stability for four straight months, a senior economist at the Bank of Uganda (BOU) has said. Full text...

  • COMESA to use local currencies in cross-border trade
    19 november 2003 10:28:00
    Nairobi- Kenya (PANA) -- Finance ministers from the Common Market for Eastern and Southern Africa (COMESA) Tuesday approved the setting up of a facility allowing member states to use their local currencies in cross-border trade. Full text...

  • Nigerian naira continues free-fall against US dollar
    08 november 2003 15:53:00
    Lagos- Nigeria (PANA) -- The free-fall of the Nigerian currency, the naira, against the US dollar this week at the official Dutch Auction System (DAS) segment of the country's foreign exchange market, has had a ripple effect on the exchange rates of the currency at the parallel market. Full text...

  • Nigerian Central Bank blames Naira fall on speculators
    07 november 2003 16:06:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) has blamed the depreciation of the local currency, Naira, on speculative trading at the official Dutch Auction System (DAS) segment of the foreign exchange market. Full text...

  • Zambian kwacha remains steady against US dollar
    04 november 2003 14:12:00
    Lusaka- Zambia (PANA) -- Zambia's currency, the kwacha, Tuesday defied the odds and resisted pressure to breach the exchange rate of 4,800 units to one US dollar, as trading resumed on the foreign exchange market for the second day of the week. Full text...

  • Canadian firm supplies Zambian with new banknotes
    03 november 2003 16:13:00
    Lusaka- Zambia (PANA) -- The Central Bank of Zambia Monday said that the Canadian Bank Note-making company (CBN) has rectified the problems the 500 kwacha (about 12. Full text...

  • Nigerian Naira continues downward slide
    01 november 2003 13:36:00
    Lagos- Nigeria (PANA) -- The Nigerian Naira lost a total of 2. Full text...

  • States ponder change of 'CFA Franc' label, says BCEAO governor
    31 october 2003 11:59:00
    Paris- France (PANA) -- African States of the franc zone are contemplating removal of the term "franc" to refer to their currency as the CFA, according to Central Bank of West African States (BCEAO) governor, Charles Konan Banny. Full text...

  • Official hopeful on ECOWAS single monetary zone
    29 october 2003 21:05:00
    Accra- Ghana (PANA) -- The political will so far exhibited by leaders of the West African sub-region is a boost to the single monetary zone concept of the West African Monetary Institute (WAMI), Michael Ojo, WAMI Director General said in Accra Wednesday. Full text...

  • Zimbabwe sets up taskforce to crack down on forex dealers
    29 october 2003 20:09:00
    Harare- Zimbabwe (PANA) -- A ministerial taskforce set up to crack down on illegal foreign currency dealings in Zimbabwe Wednesday invited information from companies and the public on alleged under-hand transactions blamed for the country's economic woes. Full text...

  • Nigerian currency continues slide against US dollar
    26 october 2003 14:25:00
    Lagos- Nigeria (PANA) -- Nigeria's naira currency lost a total of 0. Full text...

  • DR Congo puts 200 CF banknote into circulation
    20 october 2003 10:38:00
    Kinshasa- DR Congo (PANA) -- A new 200 Congolese Franc (CF) banknote goes into circulation on Monday, the Central Bank of Congo (BCC) announced here at the weekend. Full text...

  • Gambia liberalises forex transactions
    13 october 2003 22:25:00
    Banjul- Gambia (PANA) -- Gambia Monday announced a new foreign exchange policy allowing visitors to bring in any amount of foreign currency, but with a ceiling on what should be taken out. Full text...

  • Zambian kwacha remains steady against the US dollar
    13 october 2003 13:35:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha on Monday remained stuck at 4,740 to the greenback for the third consecutive day of trading, mainly because of muted activity in the foreign exchange market. Full text...

  • South Africa's trade union warns of recession
    07 october 2003 11:55:00
    Johannesburg- South Africa (PANA) -- South Africa's trade union, Solidarity, has expressed concern at the continued rise of the rand against other currencies, particularly the US dollar, saying that companies are currently preparing for a new wave of retrenchments, using the strong rand as an excuse. Full text...

  • Dipping Gambian dalasi sparks raid of street money dealers
    06 october 2003 11:48:00
    Banjul- Gambia (PANA) -- Gambian security authorities have seized millions of CFA francs in a swoop of street-side money exchangers in Sibanor village, 100km outside the capital, police sources have disclosed. Full text...

  • Mozambican Central Bank lifts ban on exchange Bureaux
    04 october 2003 19:22:00
    Maputo- Mozambique (PANA) -- The Central Bank of Mozambique has partially lifted the ban it imposed in 2002 on the opening new foreign exchange bureaux in Maputo. Full text...

  • Nigerian currency slides against US dollar
    04 october 2003 10:50:00
    Lagos- Nigeria (PANA) -- Nigeria's naira currency has lost 0. Full text...

  • Zimbabwean Central Bank pumps billions into circulation
    02 october 2003 20:16:00
    Harare- Zimbabwe (PANA) -- The Central Bank of Zimbabwe said Thursday it had pumped 96 billion Zimbabwean dollars into circulation to ease a five-month cash crisis, which has almost sparked riots in the country. Full text...

  • Congolese franc firms up to US dollar
    01 october 2003 18:39:00
    Kinshasa- DR Congo (PANA) -- DR Congo franc appreciated by 1. Full text...

  • Gambian leader gives ultimatum to currency dealers
    30 september 2003 23:24:00
    Banjul- Gambia (PANA) -- President Yahya Jammeh on Tuesday issued an ultimatum to foreign currency dealers, saying they should surrender their money to government by Thursday or face the full force of the law. Full text...

  • Canadian company regrets faulty Zambian banknotes
    29 september 2003 11:57:00
    Lusaka- Zambia (PANA) -- The Canadian company which printed Zambia's new plastic bank notes introduced at the weekend and found to be faulty has apologised for defects on the currency, press reports said Monday. Full text...

  • Nigerian currency rebounds against US dollar
    27 september 2003 16:12:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira, appreciated against the US dollar at the official Dutch Auction System (DAS) segment of the foreign exchange trading this week, closing at 128. Full text...

  • Zambian Central Bank issues high value notes
    27 september 2003 10:03:00
    Lusaka- Zambia (PANA) -- Ordinary citizens have condemned the Bank of Zambia's decision to put into circulation two high value denomination notes, which they regard as a potential source of hyper-inflation. Full text...

  • Gambia's currency gains strength after dealers' round-up
    24 september 2003 22:23:00
    Banjul- Gambia (PANA) -- Gambia's local currency, the dalasis (D) has appreciated against major foreign currencies a few days after a crackdown against illegal money changers, according to the secretary of state (minister) for tourism and culture, Yankuba Touray. Full text...

  • Zimbabwe introduces new payment system
    23 september 2003 20:07:00
    Harare- Zimbabwe (PANA) -- The Zimbabwean Central Bank Tuesday introduced bearer cheques as legal tender, as authorities battle to solve a four-month-old national cash crisis. Full text...

  • Gambia nabs over 200 illegal currency dealers
    22 september 2003 22:15:00
    Banjul- Gambia (PANA) -- Over 200 illegal money dealers were arrested Monday in a joint operation by the Gambian police and immigration officials in several urban centres. Full text...

  • DR Congo to print new Congolese franc notes
    22 september 2003 12:58:00
    Kinshasa- DR Congo (PANA) -- New small denomination banknotes in the DR Congo currency will soon be introduced to replace old bills of the same value. Full text...

  • Nigeria's apex bank to sanction banks over dirty notes
    22 september 2003 12:51:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) has threatened to sanction banks caught recycling dirty banknotes, following an outcry from the public over the increasing number of "dog-eared" notes now in circulation in the country. Full text...

  • Nigerian currency continues fall against US dollar
    20 september 2003 16:26:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira, lost 0. Full text...

  • Zambian kwacha gains from reduced maize imports
    16 september 2003 16:18:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha Tuesday exchanged at between 4,700 and 4,750 units to the US dollar on the foreign exchange market. Full text...

  • Nigerian currency slides further against the greenback
    13 september 2003 16:23:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira, depreciated by 0. Full text...

  • Zambian kwacha gains against US dollar
    11 september 2003 14:46:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha was exchanging for 4,730 units against the US dollar early Thursday after going for 4,750 to the greenback Wednesday. Full text...

  • EAC members to study feasibility of envisaged common currency
    10 september 2003 16:17:00
    Kampala- Uganda (PANA) -- Central banks of the East African Community (EAC) comprising Kenya, Tanzania, and Uganda plan to launch a cross-border survey beginning next month to ascertain the economic viability of a regional common currency that they envisage to introduce in 2010. Full text...

  • Nigerian currency appreciates slightly against US dollar
    30 august 2003 17:22:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira, appreciated by 0. Full text...

  • Nigerian currency continues fall against US dollar
    23 august 2003 14:54:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira further depreciated against the dollar this week as it lost a total of 0. Full text...

  • Madagascar plans to adopt new currency in January
    22 august 2003 11:35:00
    Antananarivo- Madagascar (PANA) -- The department of financial operations of the Central Bank of Madagascar has announced the introduction of a new currency known as 'ariary' for the country on 1 January 2005. Full text...

  • Central Bank swings into action as Malawi Kwacha tumbles
    14 august 2003 14:27:00
    Blantyre- Malawi (PANA) -- The Reserve Bank of Malawi (Central Bank) has banned the random buying of foreign exchange, as the local currency continued to tumble. Full text...

  • Zambian kwacha slips against US dollar
    14 august 2003 13:38:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has depreciated by 170 units against the US dollar on the foreign exchange market following rising demand from importers and a slack in the supply of hard currency from non-profit institutions. Full text...

  • Nigerian currency slides against US dollar
    09 august 2003 13:21:00
    Lagos- Nigeria (PANA) -- Nigeria's naira currency lost 28 kobo to the US dollar at the two sessions of the official Dutch Auction System (DAS) of foreign exchange allocation held this week, closing at N128. Full text...

  • Nigerian currency appreciates slightly
    02 august 2003 16:21:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira, appreciated by 0. Full text...

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