Economy - Currency
  • Central Bank fails to halt slide of Zambian Kwacha
    28 february 2002 14:11:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has depreciated a further four units in spite of the Central Bank off-loading a total of 5. Full text...

  • Exchange rate of Angolan Kwanza as at Friday
    23 february 2002 16:38:00
    Luanda- Angola (PANA) -- Following was the exchange rate of Angola Kwanza to main world currencies as of Friday, according to the Central Bank (BNA), even as the US dollar was bought in the black market at 34. Full text...

  • Zambian currency depreciates despite Central Bank intervention
    23 february 2002 15:49:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha closed the business week Saturday 0. Full text...

  • Zambian kwacha collapses under severe demand pressure
    15 february 2002 18:14:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has sunk by a significant 7. Full text...

  • Zambian kwacha extends bearish rally
    07 february 2002 13:28:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has extended its bearish rally in the absence of long awaited support from the Central Bank dealing window. Full text...

  • Central bank in Nigeria to shore up national currency
    31 january 2002 15:42:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) will shortly introduce measures to strengthen and stabilise the naira, its governor, Joseph Sanusi, told an Economic and Financial Policies Management workshop Thursday in Lagos. Full text...

  • Zambia's kwacha opens week at low point
    22 january 2002 10:41:00
    Lusaka- Zambia (PANA) -- Zambia's kwacha started the week depressed after suffering a marginal depreciation of 0. Full text...

  • Zambian kwacha depreciates against Forex demand
    18 january 2002 17:01:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia on Friday off loaded more than one million US dollars through its dealing window but the move failed to halt the continued depreciation of the kwacha. Full text...

  • Zambian kwacha slumps
    16 january 2002 15:37:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has depreciated by 3. Full text...

  • Hard currency demand rises in spite of apex bank's intervention
    15 january 2002 11:53:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia Tuesday returned to the foreign exchange market with a parcel of only one million US dollars and traders were getting the jitters over the widening rift between demand and supply. Full text...

  • Namibian body expresses doubt over inquiry into currency drop
    09 january 2002 20:28:00
    Windhoek- Namibia (PANA) – The Namibian Economic P-olicy Research Unit (NEPRU) said Wednesday that a commission of inquiry set up by the South African government to look into the reasons behind the rand's fall will not come up with vital recommendations to improve the battered currency. Full text...

  • Business leaders welcome move to protect South African rand
    09 january 2002 08:05:00
    Cape Town- South Africa (PANA) -- South African business leaders have welcomed President Thabo Mbeki's decision to set up a commission of inquiry to probe the rand's sudden decline late last year. Full text...

  • Mbeki orders probe on depreciation of South African rand
    08 january 2002 21:25:00
    Johannesburg- South Africa (PANA) -- President Thabo Mbeki Tuesday authorised an inquiry into the continuing depreciation of the rand against the US dollar and the British pound. Full text...

  • Business leaders call for stern action to stabilise the rand
    04 january 2002 15:40:00
    Cape Town- South Africa (PANA) -- Kevin Wakeford, Chairman of the South African Chamber of Business (SACOB), on Friday called on the relevant authorities to establish a commission to investigate the rapid demise of the rand currency. Full text...

  • Apex bank resumes currency trading after long lull
    03 january 2002 22:07:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia on Thursday returned to the foreign exchange dealing window and off-loaded a cache of 2 million US dollars a day after business in Lusaka was disrupted by sporadic rioting. Full text...

  • Banks refuse European currencies in advent of Euro
    30 december 2001 10:19:00
    Addis Ababa- Ethiopia (PANA) -- Private banks in Ethiopia have followed suit after the state-owned Commercial Bank of Ethiopia (CBE) began refusing currencies set for replacement by the Euro on 1 January 2002. Full text...

  • Zambian elections subdue monetary activity
    27 december 2001 16:58:00
    Lusaka- Zambia (PANA) -- Zambia's finance houses closed for business from midday Thursday to allow their staff to vote in presidential and general elections. Full text...

  • ECOWAS yet to agree a name for new currency
    21 december 2001 16:50:00
    Dakar- Senegal (PANA) -- The five-nation West African Monetary Zone (WAMZ), has deferred the choice of a new name for the currency to be used under the second monetary Zone, to be created in 2003 within ECOWAS. Full text...

  • Zambian currency holds against the US dollar
    21 december 2001 16:07:00
    Lusaka- Zambia (PANA) -- Zambia's kwacha currency was holding out against the US dollar Friday as the Central Bank came to its rescue with the off-loading of a cache of one million dollars from its dealing window. Full text...

  • S. African rand's free-fall sparks fears of high interest rates
    20 december 2001 13:13:00
    Cape Town- South Africa (PANA) -- The rand currency this week tumbled to a new all time worst level against major currencies, sparking fears that South Africa will inevitably face interest rate hikes in the New Year. Full text...

  • Advent of Euro booms parallel currency market in Algiers
    19 december 2001 22:30:00
    Algiers- Algeria (PANA) -- The parallel foreign currency market of in Algiers is experiencing an unprecedented boom in the advent of the unique European currency, economic observers reported. Full text...

  • Zambia's apex bank fails to dampen demand, depreciation
    18 december 2001 14:13:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia, the country's central bank, has opened the week determined to stamp out excessive demand for foreign exchange in the market and halt depreciation of the local unit against the US dollar. Full text...

  • Integration possible without single currency -- UEMOA chairman
    17 december 2001 16:35:00
    Dakar- Senegal (PANA) -- Moussa Toure, chairman of the West African Monetary Union (UEMOA) Commission, says a desired single currency would further boost economic integration within the sub-region. Full text...

  • African economists to discuss Euro/CFA link in Paris
    12 december 2001 17:39:00
    Paris- France (PANA) -- African economists and intellectuals are scheduled to meet in Paris Saturday to discuss the advantages and disadvantages of the link between the Euro/CFA. Full text...

  • S. African foundation calls for cool heads over currency crisis
    07 december 2001 13:36:00
    Cape Town- South Africa (PANA) -- The Board of Governors of the South Africa Foundation says that while political and economic shortcomings inevitably affect the value of a currency, the recent sharp depreciation of the rand is not a sign of political or economic failure. Full text...

  • Zimbabwe foreign exchange earnings dip
    06 december 2001 13:17:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's monthly foreign currency earnings have dipped by more than half to 30 million US dollars in October, dealers said Thursday. Full text...

  • South African Rand likely to fall further
    05 december 2001 12:33:00
    Cape Town- South Africa (PANA) -- South African economists say the beleaguered rand would trade even lower against the US dollar next year. Full text...

  • Kwacha extends bullish stance against major foreign currencies
    04 december 2001 15:27:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia Tuesday off-loaded a cache of 1. Full text...

  • Burundi's banking sector prepares for euro
    03 december 2001 13:49:00
    Bujumbura- Burundi (PANA) -- Commercial banks in Burundi have announced the gradual conversion of their foreign accounts from various European currencies into euro, ahead of 1 January 2002 when the new currency comes into full force. Full text...

  • Central Bank measures help Zambian kwacha regain strength
    29 november 2001 19:22:00
    Lusaka- Zambia (PANA) -- The kwacha has put a skid on depreciation and begun to recover, by a significant appreciation of 7. Full text...

  • Zimbabwe's central bank tightens foreign exchange rules
    25 november 2001 13:05:00
    HARARE- Zimbabwe (PANA) -- Zimbabwe's central bank has tightened foreign currency trading rules to stem leakage to the parallel market, which is blamed for an acute shortage of hard currency in the country. Full text...

  • Economists worry over currency depreciation in Sudan
    24 november 2001 12:18:00
    Khartoum- Sudan (PANA) -- Economists in Sudan have raised alarm over the steep depreciation of the national currency, the Dinar, against the greenback and other convertible currencies in recent weeks, and urged the government to promptly remedy the situation. Full text...

  • Zambian apex bank sells $2 million as kwacha depreciates
    20 november 2001 15:39:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia Tuesday opened its dealing window to sell two million US dollars against a backdrop of a severe depreciation of the local unit. Full text...

  • Zambia's kwacha currency continues to weaken
    16 november 2001 21:37:00
    Lusaka- Zambia (PANA) -- The Zambian currency, the kwacha, continued to weaken Friday and reached an all time low for almost a year when it exchanged for more than 4,000 units to the US dollar. Full text...

  • European Commission introduces Euro currency to Namibians
    15 november 2001 21:55:00
    Windhoek- Namibia (PANA) -- The European Commission Thursday introduced its Euro currency to Namibians less than two months before it goes into full circulation on 1 January 2002 in most European Union countries. Full text...

  • Kenyan minister rules out printing election cash
    15 november 2001 16:16:00
    Nairobi- Kenya (PANA) -- Kenya's Finance Minister Chris Okemo Thursday refuted claims that the government intended to print money to aid the ruling party's election campaigns in the 2002 polls. Full text...

  • Nigeria to introduce more coins
    07 november 2001 12:06:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) is to introduce more coins as part of a currency reform scheme aimed at promoting a pricing mechanism, especially of goods and services, at the retail level. Full text...

  • Fake 50 pula notes in circulation
    03 november 2001 17:21:00
    Gaborone- Botswana (PANA) -- Fake 50-pula currency notes are in circulation in Botswana, according to a notice issued by the Bank of Botswana. Full text...

  • Zambia auctions 3.4 million dollars to shore up kwacha
    30 october 2001 17:34:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia on Tuesday auctioned 3. Full text...

  • Mozambique tightens forex rules
    18 october 2001 22:08:00
    Maputo- Mozambique (PANA) -- The Bank of Mozambique is tightening the rules governing foreign exchange operations in the country, the national news agency (AIM) reported Thursday. Full text...

  • Kwacha stabilises
    12 october 2001 15:35:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha struck a rare balance between supply and demand Friday as the Central Bank off-loaded some one million US dollars at its dealing window. Full text...

  • Zambian Kwacha comes under fresh threats
    09 october 2001 17:25:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia flew to the rescue of the kwacha Tuesday, offloading 2. Full text...

  • Tanzania shilling remains stable
    03 october 2001 08:38:00
    Dar es Salaam- Tanzania (PANA) -- Tanzania's shilling remained stable over the past two weeks, making a slight gain against the U. Full text...

  • Angola's exchange rates for Friday
    28 september 2001 17:14:00
    Luanda- Angola (PANA) -- Below is Friday's exchange rate of the Angolan kwanza against some of the world's currencies, as provided by the National Reserve Bank. Full text...

  • Zambia records deficit between inflows and needs
    28 september 2001 16:32:00
    Lusaka- Zambia (PANA) -- Zambia recorded a deficit of 111. Full text...

  • South African rand continues plunge
    28 september 2001 10:02:00
    Cape Town- South Africa (PANA) -- The South African rand has come under renewed attack, dropping below nine to the dollar for the first time, amid market jitters over how the US would respond to this month's terror attacks. Full text...

  • South African rand plunges to new record lows
    28 september 2001 09:32:00
    Cape Town- South Africa (PANA) -- The South African rand has come under renewed attack, dropping below nine to the dollar for the first time, amid market jitters over how the US would respond to this month's terror attacks. Full text...

  • BCEAO governor says no monetary slavery in CFA franc zone
    25 september 2001 21:55:00
    Paris- France (PANA) -- France is not holding the CFA franc zone economies in "monetary slavery" as it has often been perceived to be the case, the West African Central Bank, or BCEAO, governor Konan Banny said here Tuesday. Full text...

  • Euro circulation not to affect CFA franc
    25 september 2001 19:31:00
    Paris- France (PANA) -- French finance minister Laurent Fabius has assured francophone African countries using the CFA franc that the monetary unit would not be affected by circulation of the euro as from January 2002. Full text...

  • Kwacha depreciates by 2.14 percent
    25 september 2001 14:04:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia, the country's central bank, Tuesday auctioned 4. Full text...

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