Economy - Currency
  • Zambian kwacha plunges 20 units
    20 may 2003 17:17:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha was on Tuesday down by 20 units after losing its footing at the Central Bank wholesale dealing window, but market players remained hopeful the local unit would strike an equilibrium before the end of the week. Full text...

  • Ethiopian birr nosedives as US dollar weakens
    19 may 2003 13:19:00
    Addis Ababa- Ethiopia (PANA) -- The weakening US dollar is sending the shivers to small currency markets such as Ethiopia, whose money is pegged to the greenback. Full text...

  • Nigeria contemplates 1,000 Naira note
    19 may 2003 12:24:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) is planning to introduce a 1,000 Naira bill as part of ongoing currency reform, the private Punch newspaper reported Monday, quoting bank spokesman Tony Ede. Full text...

  • Nigerian currency rallies against US dollar
    17 may 2003 12:52:00
    Lagos- Nigeria (PANA) -- Nigeria's Naira appreciated against the US dollar at the official Dutch Auction System (DAS) of foreign exchange allocation this week, closing at 127. Full text...

  • Zimbabwe currency plunges as forex crunch worsens
    15 may 2003 21:15:00
    Harare- Zimbabwe (PANA) -- The Zimbabwean dollar plunged to its lowest level against major currencies this week as two government energy companies swooped the market for hard currency for fuel and power imports. Full text...

  • Nigerian currency depreciates against dollar
    11 may 2003 10:03:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira depreciated against the dollar at the last session of the Dutch Auction System (DAS) of foreign exchange allocation held this week, closing at 127. Full text...

  • Senior West African bankers call for monetary union
    07 may 2003 20:49:00
    Banjul- Gambia (PANA) -- Central Bank governors from the West African Monetary Zone (WAMZ) meeting here on Wednesday called for more efforts towards a single currency in West Africa. Full text...

  • Nigerian Naira rallies against US dollar
    04 may 2003 15:42:00
    Lagos- Nigeria (PANA) -- Nigeria's currency, the Naira, rallied at the last session of the Dutch Auction System (DAS) of foreign exchange allocation held last week, closing at 127. Full text...

  • Zambian Kwacha in slight post-Easter gain
    23 april 2003 12:53:00
    Lusaka- Zambia (PANA) -- The Zambian Kwacha Wednesday recorded a slight gain on the US dollar after the Easter holiday, trading at between 4,800 units (bid) and 4,850 units (offer) to the greenback. Full text...

  • Tight monetary policy keeps South African currency strong
    22 april 2003 12:29:00
    Johannesburg- South Africa (PANA) -- Tight monetary policy is believed to be keeping strong the South Africa rand, which on Tuesday was trading at 7. Full text...

  • Franc Zone finance minister push for solidarity
    09 april 2003 17:55:00
    Niamey- Niger (PANA) -- Franc Zone finance ministers wound up a meeting here Wednesday stressing "the need to enhance solidarity with a view to fostering monetary stability in the zone". Full text...

  • Niger Minister rules out CFA franc devaluation
    09 april 2003 11:56:00
    Niamey- Niger (PANA) -- Niger's Finance and Economy Minister Ali Badjo Gamatie has ruled out any devaluation of the CFA franc, saying the issue will not feature at the ongoing meeting in Niamey of Finance Ministers of the CFA franc zone countries. Full text...

  • President Tanja opens Franc zone ministerial meeting
    08 april 2003 23:13:00
    Niamey- Niger (PANA) -- President Mamadou Tandja of Niger on Tuesday urged finance ministers attending the two-day Franc zone conference here to give priority to partnership in their discussions on economic reforms. Full text...

  • FCFA devaluation not up for discussion at Niamey meeting
    08 april 2003 21:34:00
    Niamey- Niger (PANA) -- Finance minister Ali Badjo Gamatié has ruled out any possibility to devalue the CFA franc, saying the issue would not be discussed at the meeting of finance ministers from the franc zone member countries that opened here Tuesday. Full text...

  • Nigerian currency depreciates against dollar
    05 april 2003 11:26:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira depreciated against the US dollar at the two sessions of the Dutch Action System (DAS) of foreign exchange allocation this week, closing at 127. Full text...

  • Gambian police arrest illegal currency dealers
    30 march 2003 15:25:00
    Banjul- Gambia (PANA) -- Gambian police at the weekend arrested scores of people, mainly Guineans suspected of illegal currency dealing in the country's city of Serre Kunda. Full text...

  • Tunisia registers 62-percent growth in currency reserves
    30 march 2003 14:41:00
    Tunis- Tunisia (PANA) -- Tunisia's foreign currency reserves grew by 62. Full text...

  • Nigerian currency stays stable against the dollar
    08 march 2003 20:29:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira remained stable against the US dollar at the two sessions of the Dutch Auction System (DAS) of foreign exchange allocation held during the week, remaining at 127. Full text...

  • Depreciation of dalasi causes hardship in Gambia
    07 march 2003 07:57:00
    Banjul- Gambia (PANA) -- The Gambian currency, the dalasi, has drastically depreciated against major foreign currencies, prompting the government to bargain for common exchange rates for the "free-falling dalasi" for those currencies. Full text...

  • Swazi businesses reject South African currency coins
    06 march 2003 08:23:00
    Mbabane- Swaziland (PANA) -- Though the Rand is legal tender in Swaziland, shopping outlets in the landlocked country are these days refusing South African coins in business transactions, claiming that most of them were fake. Full text...

  • Nigerian currency appreciates against the dollar
    02 march 2003 15:17:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira appreciated against the US dollar at the last session of the official Dutch Auction System (DAS) of foreign exchange allocation held last week, closing at 127. Full text...

  • Zambian currency retraces steps from deep depreciation
    26 february 2003 12:52:00
    Lusaka- Zambia (PANA) -- Zambia's kwacha currency emerged Wednesday much firmer than last week even though its exchange rate still dangled between 4,950 and 5,050 units to the US dollar on the corporate market. Full text...

  • South African firm denies giving Zimbabwe foreign exchange loan
    22 february 2003 19:31:00
    Johannesburg- South Africa (PANA) -- South African mining giant, Anglo American Plc has dismissed as "erroneous" reports that it loaned foreign currency to the beleaguered Zimbabwe government to enable it to buy fuel. Full text...

  • Nigerian Naira continues slide against US dollar
    22 february 2003 15:30:00
    Lagos- Nigeria (PANA) -- The Nigerian Naira continued its slide against the US dollar at the official Dutch Auction System (DAS) of foreign exchange allocation this week, closing at 127. Full text...

  • Zambian kwacha currency continues to depreciate
    19 february 2003 23:43:00
    Lusaka- Zambia (PANA) -- The Zambian foreign exchange market was on Wednesday speculating on unconfirmed reports that the Central Bank was on the verge of intervening on behalf of the kwacha which on Monday had depreciated by a further 21 units from Friday's closing level. Full text...

  • Inter-bank exchange rates of Ghana's cedi currency
    17 february 2003 19:46:00
    Accra- Ghana (PANA) -- Here are the average inter-bank exchange rates of major currencies against the cedi on Monday: Currency Buying Selling Pound Sterling 13,504. Full text...

  • Zambian kwacha falls further by 15 units
    15 february 2003 15:32:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha plummeted by 15 units Saturday as most business houses drew curtains on their trade activities for the weekend. Full text...

  • West African common currency coming out July 2005
    14 february 2003 19:47:00
    Banjul- Gambia (PANA) -- Preparations were at an advanced stage for the introduction of the West African common currency, the Eco, by 1 July 2005, the director general of the West African Monetary Institute (WAMI), Dr M. Full text...

  • Zambian kwacha slides further against US dollar
    12 february 2003 14:20:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has plummeted to 5,170 units against the US dollar, and foreign exchange market analysts believe a further depreciation is inevitable unless hard currency supplies in the country can be improved upon. Full text...

  • Nigerian Naira continues slide against the dollar
    08 february 2003 14:52:00
    Lagos- Nigeria (PANA) -- The Nigerian Naira continued its slide against the American dollar at the official Dutch Auction System (DAS) of foreign exchange allocation this week, closing at N127. Full text...

  • Zambian Kwacha falls
    20 january 2003 17:04:00
    Lusaka- Zambia (PANA) -- The Zambian Kwacha, which has fallen by 2. Full text...

  • Nigerian Naira rallies against US dollar
    17 january 2003 13:38:00
    Lagos- Nigeria (PANA) -- The Nigerian Naira rallied against the US dollar at the last Dutch Auction System (DAS) foreign exchange allocation session this week, closing at 127. Full text...

  • Gambia's currency slumps
    15 january 2003 14:37:00
    Farafenye- Gambia (PANA) -- For months, the Gambia has been plunged into depression, with the speculative collapse of its currency, the dalasi, and an economy based essentially on re- exporting low-cost imported manufactured products to countries of the sub-region. Full text...

  • Monday inter-bank exchange rates of the cedi
    13 january 2003 18:17:00
    Accra- Ghana (PANA) -- Following are the average inter-bank exchange rates of major currencies against the Ghanaian cedi on Monday: Currency Buying Selling US Dollar 8,298. Full text...

  • Nigerian Naira depreciates against US dollar
    10 january 2003 18:10:00
    Lagos- Nigeria (PANA) -- The Nigerian Naira depreciated against the US dollar at the two sessions under the Dutch Auction System of foreign exchange allocation held in Lagos this week, closing at 127. Full text...

  • Zambian Kwacha in marginal slide
    10 january 2003 15:53:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha weakened marginally on the foreign exchange market Friday after the Central Bank injected 2. Full text...

  • Kenyan shilling makes big gains
    31 december 2002 14:09:00
    Nairobi- Kenya (PANA) -- The Kenyan shilling responded positively to the change of guard at the country's leadership, gaining heavily against the US dollar and the British Sterling Pound in Tuesday's trading. Full text...

  • DR Congo franc continues appreciation against US dollar
    26 december 2002 21:33:00
    Kinshasa- RD Congo (PANA) -- The DR Congo franc (CF) has continued its appreciation, which started a week ago against major foreign currencies, with 330 CF now exchanging for one US dollar. Full text...

  • Zambian Kwacha recovers lost ground
    24 december 2002 18:27:00
    Lusaka- Zambia (PANA) -- The Zambian Kwacha, which had been on a free-fall over the past months, was unexpectedly firm against the US dollar Tuesday as the nation wound up business for the Christmas holiday. Full text...

  • Stronger Rand boosts business confidence in Western Cape
    19 december 2002 16:12:00
    Johannesburg- South Africa (PANA) -- A stronger rand has boosted business confidence in South Africa's Western Cape province, according to a quarterly economic survey by the Cape regional chamber of commerce and industry. Full text...

  • Algerian dinar may be devalued
    04 december 2002 19:24:00
    Algiers- Algeria (PANA) -- Algerian national currency, the dinar, could undergo fresh devaluation in January 2003, according to informed financial sources in Algiers. Full text...

  • Malawi experiences acute shortage of hard currency
    03 december 2002 22:35:00
    Blantyre- Malawi (PANA) -- An acute shortage of foreign currency on the Malawi money market has forced the local currency to slip from 80 units to one dollar last month to about 85 units a dollar in commercial banks. Full text...

  • Nigerian Naira depreciates against US dollar
    30 november 2002 16:38:00
    Lagos- Nigeria (PANA) -- Nigerian currency, the Naira, depreciated against the US dollar at the last Dutch Auction this week, closing at 126. Full text...

  • Sudanese currency depreciates
    25 november 2002 15:42:00
    Khartoum- Sudan (PANA) -- Pilgrimage and preparations for the upcoming Eid-el-Fitr festival have sent the Sudanese dinar tumbling by 0. Full text...

  • Launch of ECOWAS second monetary zone postponed
    19 november 2002 13:16:00
    Lagos- Nigeria (PANA) -- Leaders of five-member States of the ECOWAS second monetary zone have postponed the launch of their common currency to 1 July 2005, the ECOWAS Secretariat said in a statement in Abuja Tuesday. Full text...

  • Congolese franc falls against the US dollar
    15 november 2002 23:20:00
    Kinshasa- RD Congo (PANA) -- The DR Congo currency - Congolese franc - has slumped under the rate of 400 FC to the US dollar, exchanging at Tuesday's close at 506. Full text...

  • Zambian kwacha depreciates by 23 units
    11 november 2002 19:51:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha was on Monday down by 23. Full text...

  • Central Bank decries mutilation of Ghanaian bank notes
    11 november 2002 19:09:00
    Accra- Ghana (PANA) -- The Bank of Ghana (BOG) on Monday expressed serious concern over the high rate of mutilation of bank notes in the country, saying it spends about three billion cedis a month to replace bank notes defaced through poor handling. Full text...

  • Nigerian currency appreciates slightly greenback
    09 november 2002 15:45:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira, appreciated slightly against the US dollar at the second auction held this week under the Dutch Auction System (DAS) of foreign exchange allocation, closing at 126. Full text...

  • Second West African regional central bank opens 2005
    07 november 2002 21:15:00
    Conakry- Guinea (PANA) -- Leaders of the proposed West African Monetary Zone (WAMZ) ended their fourth summit here Thursday resolved to put in place a regional central bank and a monetary union by mid 2005. Full text...

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