Economy - Currency
  • DR Congo franc depreciates amid rumours of new banknotes
    18 september 2002 22:23:00
    Kinshasa- DR Congo (PANA) -- The DR Congo franc (CF) has depreciated from 340 to 355 CF to the US dollar in the past week on the local exchange market, leading to a rise of consumer goods prices. Full text...

  • Zambian kwacha weakens under demand from importers
    18 september 2002 19:08:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha dipped to a low of 4,493 units to the US dollar Wednesday after weakening at the Central Bank dealing window where one million dollars was under auction. Full text...

  • Common currency for West Africa to remain a dream
    17 september 2002 16:17:00
    Accra- Ghana (PANA) -- The idea of West Africa taking a major step towards a common currency come next year will remain a dream, at least for now. Full text...

  • SPLM/A introduces currency for Southern Sudan
    12 september 2002 11:04:00
    Nairobi- Kenya (PANA) -- The Sudan People's Liberation Movement/Army (SPLM/A) has announced a separate currency for use in the southern part of the country, which is currently at war with the Islamic regime in Khartoum. Full text...

  • Nigerian naira in slight depreciation
    07 september 2002 13:37:00
    Lagos- Nigeria (PANA) -- Nigeria's local currency, the naira, suffered another depreciation against the US dollar at the two auctions held this week under the Dutch Auction System (DAS) of foreign exchange allocation. Full text...

  • Nigerian Naira depreciates slightly
    01 september 2002 16:33:00
    Lagos- Nigeria (PANA) -- The exchange rate of Nigeria's national currency, the Naira, suffered a slight depreciation at the Dutch Auction System of foreign exchange allocation last week, closing at 126 Naira to the US dollar against the previous week's 125 Naira to the greenback. Full text...

  • Pressure mounts on Gambia dalasis as commodities prices rise
    01 september 2002 11:18:00
    Banjul- Gambia (PANA) -- Gambia's currency, the dalasis, came under serious pressure at the weekend after it lost its value against the US dollar, British pound sterling and the West African CFA franc on the currency market. Full text...

  • Nigerian currency firms up against US dollar
    17 august 2002 13:59:00
    Lagos- Nigeria (PANA) -- The Naira exchange rate closed at 125 Naira to the dollar at the last trading held under the Dutch Auction System (DAS) of foreign exchange allocation to banks this week. Full text...

  • Takeoff of West African Monetary Zone to be delayed
    16 august 2002 16:11:00
    Lagos- Nigeria (PANA) -- The realisation of the West African Monetary Zone (WAMZ) will take longer than anticipated, according to the Director General of the West African Monetary Institute (WAMI), Michael Ojo. Full text...

  • Zambian kwacha depreciates marginally against the greenback
    15 august 2002 20:36:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha was marginally down on Thursday after the exchange rate shifted from 4,445 units to the US dollar to the level of 4,453 kwacha to the greenback. Full text...

  • ECOWAS monetary Union Summit for Conakry in October
    14 august 2002 21:01:00
    Dakar- Senegal (PANA) -- ECOWAS leaders will meet in Conakry, Guinea 14-18 October, to review the progress on the community's monetary union, ECOWAS Executive Secretary Mohamed Ibn Chambas disclosed in Dakar Wednesday. Full text...

  • Nigerian currency appreciates
    10 august 2002 15:29:00
    Lagos- Nigeria (PANA) -- The exchange rate of the Naira appreciated slightly at the last trading under the Dutch Auction System of foreign exchange allocation held this week, trading 124. Full text...

  • Zambian kwacha drops by 12.50 units against US dollar
    06 august 2002 12:47:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha was down by 12. Full text...

  • Angola's exchange rates for the kwanza currency
    05 august 2002 19:51:00
    Luanda- Angola (PANA) -- Here are Monday's rates of the Angolan kwanza as regards major world currencies, according to the National Reserve Bank: Currency Purchase Sale British Pound 70. Full text...

  • High forex demand puts Zambian kwacha under pressure
    13 june 2002 16:06:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia must supply more hard currency on the money market to save the kwacha from hitting its all time low of 4,500 units to the US dollar soon, according to a forecast by Citibank here. Full text...

  • Zambian Kwacha under pressure from high export sector demands
    05 june 2002 17:42:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha was on Wednesday still reeling under a much higher exchange rate against the US dollar as a result of heightened demand for hard currency with which to bring in key supplies of maize and oil. Full text...

  • National currency depreciates against US dollar
    05 june 2002 16:43:00
    Lagos- Nigeria (PANA) -- Nigeria's national currency, the Naira, depreciated by 50 Kobo against the dollar at the formal Inter- bank Foreign Exchange Market (IFEM) in the last week of May 2002, the Central Bank of Nigeria (CBN) said. Full text...

  • South Africa's Rand improves dramatically against the Dollar
    29 may 2002 22:52:00
    Cape Town- South Africa (PANA) -- The South African Rand reached its highest level this year Wednesday morning when it traded at R9. Full text...

  • South African's space trip added lustre to rand, says Bank
    28 may 2002 23:23:00
    Johannesburg- South Africa (PANA) -- The South African rand's rise against the US dollar to levels last seen six months ago could be attributed, in part, to Cosmonaut Mark Shuttleworth's trip to outer space, says Reserve Bank governor Tito Mboweni. Full text...

  • Zambian kwacha under pressure of scarce forex
    28 may 2002 17:07:00
    Lusaka- Zambia (PANA) -- Zambia's kwacha was down by ten units at the start of business on Tuesday after it posted losses the previous day at the Bank of Zambia foreign exchange wholesale window. Full text...

  • Currency in circulation drops in Nigeria
    21 may 2002 18:10:00
    Lagos- Nigeria (PANA) -- Currency circulation in Nigeria dropped by 2. Full text...

  • South African currency braces up against US dollar
    17 may 2002 20:44:00
    Johannesburg- South Africa (PANA) -- South Africa's depreciating currency bounced back late Friday to 9. Full text...

  • Zambian Central Bank reduces supply to forex market
    30 april 2002 21:47:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia's dealing window has seen a steady reduction in foreign exchange supply from 16. Full text...

  • Exchange rate for the Angolan Kwanza
    29 april 2002 21:59:00
    Luanda- Angola (PANA) -- Here is the exchange rate of the Angolan Kwanza against major world currencies on Monday: [ST] Currency Purchase Sale British Pound 55. Full text...

  • Zimbabwe rules out currency devaluation
    14 april 2002 16:25:00
    Harare- Zimbabwe (PANA) -- Zimbabwe Sunday ruled out devaluation of its currency, saying this could lead to a spiralling up of prices, especially of basic commodities. Full text...

  • ECOWAS Council reaffirms name of sub-regional currency
    12 april 2002 18:21:00
    Lagos- Nigeria (PANA) -- The Convergence Council for ECOWAS second Monetary Zone, has reaffirmed "ECO" as the name of the proposed single currency, to be adopted by the sub-region in 2004. Full text...

  • Franc Zone Finance ministers to meet 14 April
    10 april 2002 17:50:00
    Paris- France (PANA) -- Finance ministers from the Franc zone will meet on 14 April in Yaounde, a source said at the French ministry of Economy and Finance in Paris. Full text...

  • Africans adjusting to euro after some frustrations (Feature)
    10 april 2002 16:08:00
    Paris- France (PANA) -- Three months after launching the euro, the European Union single currency, the confusion over the use of the unfamiliar currency has eased somewhat but not entirely, according to African traders in Paris. Full text...

  • Zambian currency markets re-open with depressed kwacha
    02 april 2002 12:53:00
    Lusaka- Zambia (PANA) -- Zambian money markets returned to business Tuesday after the long Easter weekend with indications the Zambian kwacha could lose considerable ground against major currencies later in the week. Full text...

  • Fake currency alert in Botswana
    13 march 2002 11:54:00
    Gaborone- Botswana (PANA) -- The Bank of Botswana has warned the public about the circulation of forged 100 Pula notes bearing serial number 0/15 999 243. Full text...

  • Zambian kwacha opens week on stronger footing
    11 march 2002 15:14:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia Monday adopted some measures that it hoped would compel commercial banks to trade on their published rates, failure to which they will be expelled from the wholesale dealing window. Full text...

  • Monday's exchange rate of the Angolan Kwanza
    04 march 2002 23:33:00
    Luanda- Angola (PANA) -- Following is Monday's exchange rate of the Angolan kwanza to the world's main currencies, according to the national reserve bank, even as the American dollar traded at 35. Full text...

  • Zambian kwacha tumbles
    04 march 2002 15:47:00
    Lusaka- Zambia (PANA) -- Zambia's kwacha Monday opened the week with a sudden fall on the foreign exchange market at 4,400 units to the US dollar (bid) and 4,500 units (offer). Full text...

  • 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...

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