Economy - Currency
  • 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...

  • Zambia's kwacha sags under forex pressure
    21 september 2001 14:46:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia returned to the foreign exchange market Friday with a 1. Full text...

  • Kwacha tumbles by 17 units after auction
    12 september 2001 15:54:00
    Lusaka- Zambia (PANA) -- Demand continued to bear on the Zambian kwacha and this forced it to depreciate by 17 units at the end of a foreign exchange auction conducted by the country's Central Bank. Full text...

  • Pressure Mounts On Zambian Kwacha
    07 september 2001 11:32:00
    Lusaka- Zambia (PANA) -- Demand weighed down heavily on the kwacha Friday as the Bank of Zambia decided to return to the foreign exchange auction window with an offer of 2. Full text...

  • Police alert public over circulation of fake cedi
    04 september 2001 20:22:00
    Accra- Ghana (PANA) -- Ghanaian police Tuesday alerted the public over the circulation of fake 5,000 cedi notes in the country. Full text...

  • Kwacha remains vulnerable from persistent import demands
    20 august 2001 19:58:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha was Monday still under pressure from hard currency demand as foreign exchange supplies from sources other than the central bank remained a trickle of their former selves. Full text...

  • Kwacha buckles under severe pressure from importers
    17 august 2001 13:16:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has finally caved in to the intense pressure from importers whose total demand for hard currency reached 11. Full text...

  • Zimbabwe introduces higher denomination banknote
    11 august 2001 15:30:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's Central Bank Friday unveiled a new 500-Zimdollar banknote, the country's highest currency denomination, expected to come into circulation by the end of August. Full text...

  • Defective banknotes trigger criticism
    09 august 2001 20:03:00
    Dar es Salaam- Tanzania (PANA) -- Tanzania's Central Bank is facing a serious criticism after a German firm it had contracted to print the country's currency reportedly delivered a consignment of defective banknotes worth millions of shillings. Full text...

  • Botswana gleeful over weakening rand
    06 august 2001 20:32:00
    Gaborone- Botswana (PANA) -- The Bank of Botswana said Monday that the weakening of the South African rand against the pula and US-dollar might have an overall positive effect on the Botswana economy. Full text...

  • Kwacha under threat from resurgent forex demands
    03 august 2001 13:21:00
    Lusaka- Zambia (PANA) -- The effects of high demand for foreign exchange allocations began to manifest Friday on the Zambian market as the Central Bank kept its dealing window shut for the second day running. Full text...

  • Dollar supply exceeds demand in Zambia
    26 july 2001 15:57:00
    Lusaka- Zambia (PANA) -- Supply of hard currency from the Bank of Zambia this week has exceeded demand from importers of essential goods, leading the kwacha to pick up some fragile strength against the US dollar. Full text...

  • Kwacha gains on greenback
    21 july 2001 16:46:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha continued to gain ground against the greenback to close the financial week at 3676 units against the US dollar. Full text...

  • Kenyan currency circulating in Botswana
    21 july 2001 11:24:00
    Gaborone- Botswana (PANA) -- The Bank of Botswana has issued a fresh warning to the public following reports that Kenyan currency coins are circulating the country to the detriment to local businesses. Full text...

  • Jammeh launches 100 dalasi legal tender
    20 july 2001 22:48:00
    Banjul- Gambia (PANA) -- Gambian President Yahya Jammeh on Friday launched a new 100-Dalasi banknote, the highest denomination since the country created its national currency in July 1971. Full text...

  • Foreign currency rates soar in Zimbabwe
    20 july 2001 20:27:00
    Harare- Zimbabwe (PANA) -- Foreign currency rates on Zimbabwe's black market, the country's chief source of hard currency, soared Friday amid reports that the government was "formally and informally" on the market, looking for foreign currency for food imports. Full text...

  • Mboweni upbeat about South African economy
    19 july 2001 10:15:00
    Cape Town- South Africa (PANA) -- Compared to the euro and other major world currencies, the South African rand has fared well despite the dramatic lows notched up during the past few weeks, Reserve Bank governor Tito Mboweni said Wednesday night. Full text...

  • Zambian unit regains strength
    18 july 2001 10:06:00
    Lusaka- Zambia (PANA) -- After weeks of slumber, the Zambian kwacha at the start of business Wednesday was five points stronger against the Greenback at 3680 units, regaining the marginal losses of four points it suffered last week. Full text...

  • Central bank moves to rescue unstable Liberian dollar
    04 july 2001 16:15:00
    Monrovia- Liberia (PANA) -- With about two months into the UN sanctions regime, the free fall of the Liberian dollar has drawn the Central Bank into a rescue mission. Full text...

  • Kwacha stabilises as hard currency hits the market
    30 june 2001 15:06:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has gained fragile stability against the US dollar with the Central Bank dealing rate closing at 3675 units Saturday while in some bureaux de change adjustments were being done while customers transacted. Full text...

  • Central Bank fails to meet with mounting forex demand
    26 june 2001 12:57:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has made a marginal gain of only one unit against the greenback as demand mainly from importers, continued to outstrip the markedly decreasing amounts of foreign exchange from the Central Bank. Full text...

  • Kwacha currency continues to lose ground
    21 june 2001 11:05:00
    Lusaka- Zambia (PANA) -- Zambia's kwacha currency has continued to lose ground against the US dollar in spite of efforts by the country's Central Bank to strengthen it with by selling more than two million US dollars. Full text...

  • Zambian kwacha keeps low profile as trading resumes
    18 june 2001 17:50:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha remained low against the US dollar as business resumed on Monday, with the Central Bank marginal dealing rate still perched precariously at 3,650 units to the dollar. Full text...

  • New banknotes for South Africa
    14 june 2001 20:38:00
    Cape Town- South Africa (PANA) -- The South African Reserve Bank (SARB) is designing a new series of banknotes which will be launched in approximately two years. Full text...

  • Bank intervenes to salvage ailing Kwacha
    14 june 2001 17:12:00
    Lusaka- Zambia (PANA) -- Bank of Zambia has raised the statutory reserve ratios on both the Kwacha and foreign currency deposit liabilities from 10 percent to 12. Full text...

  • Kwacha drops 25 points as depreciation continues
    12 june 2001 14:57:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha lost its temporary anchoring on Tuesday and went to a new level of exchange against the US dollar as the see-saw between supply and demand took a more vigorous turn. Full text...

  • Zambian Kwacha maintains stability
    08 june 2001 12:24:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha shrugged off pressure exerted by oil companies and maintained a fairly stable average exchange rate of 3500 units against the dollar by the close of the week on Friday. Full text...

  • Namibia's exchange rates
    07 june 2001 12:49:00
    Windhoek- Namibia (PANA) -- Following is the daily exchange rates list for the Namibian dollar as provided by First National Bank Thursday: Dollar/Commercial Rand: 8,1186 Euro/Dollar : 0,8476 Sterling/Dollar : 1,3927 Dollar/Swiss Franc : 1,7961 Dollar/Japanese Yen : 120,15 Gold/Dollar : 266,75 Gold/Commercial Rand : 2165,64 Rand/Deutschmark : 0,2843 Rand/French Franc : 0,9534 Sterling/Grand : 11,2940 Rand Botswana Pula : 0,6995 Euro/Rand : 6,8786 Rand/Swiss Franc : 0,2213 Rand/Spanish Peseta : 24, 1827 Rand/Kenya Schilling : 9,6507 Rand/Malawi Kwacha : 9,1765 Rand/Zambia Kwacha : 428,03 Rand/Zimbabwe Dollar : 6,7746 USD/Rand : 8,0476 Metals: Gold AM FIX 266,95 Gold PM FIX 265,50 Silver 4,35 Full text...

  • Zambian Kwacha maintains a fragile stability
    31 may 2001 15:38:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha maintained a fragile stability on Thursday with the official Central Bank exchange rate holding on at 3,430 units against the US dollar. Full text...

  • Government reckless spending blamed for falling Naira
    30 may 2001 18:57:00
    Lagos- Nigeria (PANA) -- Nigerian Finance Minister Adamu Ciroma says reckless spending by the three tiers of government is responsible for the falling value of the national currency, the naira, and the high rate of inflation in the country. Full text...

  • Central Bank says kwacha slide is official
    29 may 2001 16:40:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha continued its nose dive and by Tuesday morning it was exchanging for 3,430 units against the greenback while indications on the foreign exchange market shower higher demand than supply. Full text...

  • Zambian kwacha continues to depreciate
    24 may 2001 15:26:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha continued to lose more ground Thursday as it plummeted to 3,495 units against the greenback in Bureaux de Change while at the Central Bank it was dealing at 3,375 kwacha to one dollar. Full text...

  • Zambian Kwacha depreciates further
    21 may 2001 15:53:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha dipped further Monday, although analysts predicted that it could stabilise later in the week when the supply of hard currency is expected to improve. Full text...

  • Kwacha continues to be bearish against US dollar
    17 may 2001 12:53:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha continued to be bearish against the US dollar forcing the local unit to have lost an estimated 1. Full text...

  • Hard currency still abundant as Metical depreciates
    15 may 2001 08:15:00
    Maputo- Mozambique (PANA) -- The Bank of Mozambique has insisted that the country faces no foreign currency shortage despite the continuing sharp depreciation of the Mozambican currency, the metical, against the US dollar. Full text...

  • Central Bank blamed for Nigeria's falling naira
    14 may 2001 20:05:00
    Lagos- Nigeria (PANA) -- Nigeria's official economic watchdog has blamed the country's Central Bank for the continuous depreciation of the national currency, the naira and the spiralling inflation. Full text...

  • Namibia's exchange rates for Wednesday
    09 may 2001 16:41:00
    Windhoek- Namibia (PANA) -- Following are the daily exchange rates against the Namibian dollar for Wednesday afternoon, as provided by the First National Bank's Treasury Division: [ST] Dollar/Commercial Rand: 7. Full text...

  • Zambian kwacha loses ground
    08 may 2001 17:24:00
    Lusaka- Zambia (PANA) -- The Central Bank in Zambia was Tuesday auctioning a million US dollars in a bid to shore up the strength of the local kwacha that sagged three per cent on Monday's trading. Full text...

  • Bank of France's allays worries over FCFA's lot with Euro
    05 may 2001 17:15:00
    Dakar- Senegal (PANA) -- The Governor of the Bank of France, Jean-Claude Trichet, has said that the linking of the CFA Franc to the European currency would not be a problem when the French franc is replaced by the Euro in January 2002. Full text...

  • Morocco devalues the dirham
    26 april 2001 16:24:00
    Rabat- Morocco (PANA) -- Finance ministry officials in Rabat have announced a devaluation of Morocco's dirham by 5 per cent in a bid to cushion off the impact of fluctuations in major international currencies. Full text...

  • Zambian Kwacha regains strength against the dollar
    25 april 2001 12:24:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has, after a month of uncontrollable depreciation, hit a skid and become bullish against the US dollar. Full text...

  • Kwacha continues drop in spite of Intervention
    21 april 2001 16:54:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha continued its slow slide against the US dollar when markets closed for the weekend in spite of the Central Bank's sustained efforts to shore it up. Full text...

  • Zambian currency shunted to new low
    19 april 2001 18:14:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia has injected seven million US dollars into the local foreign exchange market in a bid to halt the slide of the local currency, Kwacha. Full text...

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