Economy - Currency
  • US dollar maintains upward trend, South African rand depreciating
    08 october 2008 16:06:00
    Libreville- Gabon (PANA) -- The US dollar has maintained its upward trend against the CFA franc on the main financial markets of the Central African Franc zone, a ccording to data from the Bank of Central African States (BEAC) published here T u esday by commercial banks in Gabon. Full text...

  • US dollar appreciates against Central Africa zone currencies
    30 september 2008 17:25:00
    Libreville- Gabon (PANA) -- The US dollar increased slightly Tuesday, according t o the exchange rate of the main foreign currencies against the FCFA of the zone o f the Bank of Central African States (BEAC), according to commercial banks in Ga b on. Full text...

  • US dollar appreciates against Central Africa zone currencies
    30 september 2008 16:41:00
    Libreville- Gabon (PANA) -- The US dollar increased slightly Tuesday, according t o the exchange rate of the main foreign currencies against the FCFA of the zone o f the Bank of Central African States (BEAC), according to commercial banks in Ga b on. Full text...

  • Zimbabwe unveils new, higher denomination bank notes
    29 september 2008 10:38:00
    Harare- Zimbabwe (PANA) -- As both the economy and inflation spiral out of control in Zimbabwe, the central bank Monday put into circulation new, higher denomination bank notes to ease transactions by the public. Full text...

  • Latest exchange rates in Libya
    18 august 2008 13:21:00
    Tripoli- Libya (PANA) -- The exchange rates of the major currencies against the Libyan dinar remained unchanged this week, according to figures released by the Central Bank of Libya (BCL) on Monday. Full text...

  • LIbya's apex bank issues Saturday's exchange rates
    16 august 2008 12:16:00
    Tripoli- Libya (PANA) -- The Central Bank of Libya (BCL) Saturday issued the exch ange rates for the main foreign currencies against the Libyan dinar. Full text...

  • Nigeria's apex bank to outsource currency distribution
    12 august 2008 10:42:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) has concluded plans to outsource its currency processing and distribution function to a private firm as a way of promoting efficiency and effectiveness in currency management, a senior bank official said. Full text...

  • Foreign exchange rate in Mauritius
    06 august 2008 21:12:00
    Port-Louis- Mauritius (PANA) --­ Following are the exchange rates for some foreign currencies against the Mauritius rupee for Wednesday. Full text...

  • EAC moves towards single currency union
    05 august 2008 19:08:00
    Nairobi- Kenya (PANA) -- The East African Community (EAC) is negotiating a protoc ol on custom union for the region to remove tariffs and taxes attracted by goods in the member states within the next five years, a Kenyan government official sa i d here Tuesday. Full text...

  • EAC moves towards single currency union
    05 august 2008 18:58:00
    Nairobi- Kenya (PANA) -- The East African Community (EAC) is negotiating a protoc ol on custom union for the region to remove tariffs and taxes attracted by goods in the member states within the next five years, a Kenyan government official sa i d here Tuesday. Full text...

  • Tuesday's foreign exchange rates in Libya
    05 august 2008 11:05:00
    Tripoli- Libya (PANA) -- Following are the exchange rates for the main foreign currencies against the Libyan dinar as issued by the Central Bank of Libya (BCL) on Tuesday. Full text...

  • Tuesday's foreign exchange rate in Mauritius
    05 august 2008 08:31:00
    Port-Louis- Mauritius (PANA) --­ Following are the exchange rates for the main foreign currencies against the Mauritian rupee, issued here on Tuesday: Currency Buying Selling US dollar 25. Full text...

  • Zimbabwe slashes 10 zeros from currency, to introduce new notes
    30 july 2008 12:32:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's central bank, grappling with inflation of more than 2 million percent, Wednesday slashed off 10 zeros from the national currency to make transacting easier. Full text...

  • Zimbabwe unveils new 100b bank note
    19 july 2008 15:56:00
    Harare- Zimbabwe (PANA) -- As a long running economic crisis in Zimbabwe deepens, the country's central bank Saturday unveiled a Z$100 billion bank note, the highest currency denomination meant to make transactions easier. Full text...

  • Latest exchange rates in Mauritius
    07 july 2008 13:11:00
    Port-Louis- Mauritius (PANA) -- Here is the latest foreign exchange rates to the Mauritian rupee, as offered Monday by commercial banks in the country. Full text...

  • Libyan apex bank issues foreign exchange rate against local dinar
    07 july 2008 09:40:00
    Tripoli- Libya (PANA) -- Here are the exchange rates of the main foreign currenci es against the Libyan dinar as issued by the Central Bank of Libya (BCL). Full text...

  • Sierra Leone hosts West African Monetary Zone meeting
    04 june 2008 23:20:00
    Freetown- Sierra Leone (PANA) -- Sierra Leone will host a four-day conference of the West African Monetary Zone from 16-19 June at the Bintumani Hotel Conference Hall, Aberdeen, west of Freetown, to discuss progress towards the introduction o f a single monetary zone. Full text...

  • Kwacha stable despite high demand for dollar
    27 may 2008 09:24:00
    Lusaka- Zambia (PANA) -- The Zambian currency, kwacha, Monday opened trading at t he level of ZMK3,410 (buying) and ZMK3,450 (selling) per US dollar, in spite of increased demand for the greenback from importers. Full text...

  • Zimbabwe introduces new high denomination notes
    15 may 2008 08:51:00
    Harare- Zimbabwe (PANA) -- As inflation bites deeper in Zimbabwe, the central bank Thursday introduced a new Z$500 million bank note and put into circulation special cheques for farmers for up to Z$50 billion. Full text...

  • The exchange rate of currencies in Libya
    13 may 2008 21:11:00
    Tripoli- Libya (PANA) -- Here are the exchange rates of the main foreign currencies to the Libyan dinar Tuesday: Currency Sale Purchase Average 1 US dollar 1. Full text...

  • Zimbabwe introduces new high denomination notes
    06 may 2008 15:43:00
    Harare- Zimbabwe (PANA) -- As Zimbabwe sinks deeper into an inflation spiral, the central bank Tuesday introduced two new higher denomination notes of Z$100,000,000 and Z$250,000,000 for the convenience of the public. Full text...

  • Zimbabwe introduces new high denomination notes
    06 may 2008 10:12:00
    Harare- Zimbabwe (PANA) -- As Zimbabwe sinks deeper into an inflation spiral, the central bank Tuesday introduced two new higher denomination notes of Z$100,000,000 and Z$250,000,000 for the convenience of the public. Full text...

  • Strengthening of Gambian Dalasi (currency) continues in 2008
    15 march 2008 20:40:00
    Banjul- Gambia (PANA) -- Bamba Saho, Governor of the Central Bank of The Gambia, has said that the strengthening of the Dalasi, the Gambian local currency, conti n ued in the first two months of 2008, appreciating by 2. Full text...

  • ECO goes into circulation Dec. 2009
    06 march 2008 07:38:00
    Accra- Ghana (PANA) -- The common currency for five West African states, the ECO, whose launch has been postponed twice already, will become legal tender at the end of 2009, a senior official of the West African Monetary Institute (WAMI) said on Wednesday. Full text...

  • Ghana phases out old currency
    31 december 2007 18:35:00
    Accra- Ghana (PANA) – Ghana is phasing out its old- currency, which will cease to be legal tender at midnight on Monday. Full text...

  • Kenya's apex bank moves to secure exporters' earnings
    15 december 2007 13:45:00
    Nairobi- Kenya (PANA) -- The Central Bank of Kenya (CBK) Friday indicated that it might act to weaken the strengthening Shilling, which has been on a rebound aga i nst the US dollar in a bid to save millions of tea and coffee exporters from hug e losses. Full text...

  • Nigeria, four others to use common national currency
    10 december 2007 18:20:00
    Abuja- Nigeria (PANA) -- The currencies of Nigeria and four other West African co untries will freely circulate within their respective territories pending the in t roduction of a sub-region-wide single currency in 2009. Full text...

  • ECOWAS commissions study on takeoff of single currency
    11 october 2007 07:36:00
    Lagos- Nigeria (PANA) -- An extraordinary meeting of regional Ministers of Finance and Governors of Central Banks of ECOWAS Member States has agreed to commission a study that will help it propose the most feasible option and timetable for introducing a single currency for West Africa, an ECOWAS statement said. Full text...

  • Govt sees no merit to re-denominate Nigerian naira
    26 august 2007 10:09:00
    Lagos- Nigeria (PANA) -- Despite an attempt by the Central Bank of Nigeria (CBN) to justify its ill-fated plan to re-denominate the local currency, the Naira, the Nigerian presidency has insisted the move lacks merit and did not follow due process. Full text...

  • Nigerian govt cancels apex bank's currency re-denomination plan
    24 august 2007 13:18:00
    Abuja- Nigeria (PANA) – In a big blow to the leade-rship of the Central Bank of Nigeria (CBN), the federal government Friday cancelled the much-vaunted plan by the bank to re-denominate the local currency, the Naira. Full text...

  • World Bank, IMF to meet Nigerian officials on currency re-denomination
    22 august 2007 08:17:00
    Lagos- Nigeria (PANA) -- Officials of the World Bank and International Monetary Fund (IMF) were due in Nigeria Wednesday to, among others, meet with officials of the Central Bank of Nigeria (CBN) on the country's plan to re-denominate its currency, the Naira, the local press reported. Full text...

  • Apex bank in DRC puts change coins into circulation
    16 july 2007 20:02:00
    Kinshasa- DR Congo (PANA) -- Governor Jean-Claude Masangu Mulongo of the central bank in DR Congo (BCC) on Monday announced that new coins of 25, 50 and 100 Congolese francs (FC) will go into circulation to ease the constraints of difficult transaction in change coins, UN radio Okapi reported here. Full text...

  • Malian Minister urges quick action on ECOWAS single currency
    03 may 2007 20:50:00
    Bamako- Mali (PANA) -- Malian Economy and Finance Minister, Aboubacar Traoré has called on stakeholders to fast-tract the ECOWAS monetary union. Full text...

  • Wade dispels fears of Franc CFA depreciation
    03 may 2007 09:02:00
    Bissau- Guinea Bissau (PANA) -- Senegalese President Abdoulaye Wade, speaking during the inauguration ceremony of the Central Bank for the West African States (BCEAO) Agency in the Guinean-Bissau capital last Tuesday said there was no risk for the franc CFA to be devaluated. Full text...

  • Gambia meets convergence criteria for WAMI
    23 april 2007 16:08:00
    Banjul- Gambia (PANA) -- Gambia has satisfied "all four primary convergence criteria" for the first time since the start of the convergence process agreed upon by WAMI (West African Monetary Institute) as a basic requirements for common currency regime, the Finance and Economic Affairs Department in Banjul disclosed Monday. Full text...

  • Congolese franc in 10% depreciation against US dollar
    16 march 2007 20:52:00
    Kinshasa- DR Congo (PANA) -- The Congolese franc (CF) depreciated by 10 percent to the US dollar during the period from January to February 2007, Cyrille Briancon, head of Africa division at the International Monetary Fund (IMF) said Friday at the end of his mission at the DR Congo's Central Bank (BCC). Full text...

  • Zimbabwe central bank introduces new bearer cheques
    01 march 2007 16:38:00
    Harare- Zimbabwe (PANA) -- The central bank in Zimbabwe Thursday added two sets of new bearer cheques into circulation, as galloping inflation renders smaller denominations worthless. Full text...

  • New currency notes, coins enter into circulation in Nigeria
    28 february 2007 08:32:00
    Lagos- Nigeria (PANA) -- Some re-designed Nigerian currency notes and coins were billed to enter into circulation Wednesday (today), under a currency reform undertaken by the Central Bank of Nigeria (CBN). Full text...

  • Nigerian Central Bank to encourage use of coins
    06 december 2006 10:58:00
    Ibadan- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) is to introduce re-designed, consumer-friendly coins to encourage the use of coins in business transactions in the country, an official of the bank has said. Full text...

  • Ghana Central Bank to re-dominate the cedi
    26 november 2006 19:52:00
    Accra- Ghana (PANA) – The Ghanaian Central Bank said it would re--denominate the local currency, the cedi by mid-2007, to help reduce the huge sums of physical cash used for transactions. Full text...

  • New value for Congolese franc soon
    08 november 2006 10:02:00
    Kinshasa- DR Congo (PANA) -- A new value of DR Congo's currency, the Congolese franc, will be effective mid-November, Finance Minister Marco Banguli said Tuesday in Kinshasa. Full text...

  • Five WAMZ members speed up unitary currency project
    09 october 2006 21:46:00
    Accra- Ghana (PANA) -- In one of the biggest economic dreams for West Africa, the Accra-based West Africa Monetary Institute (WAMI), is hoping that local currencies could be used in member countries freely in the near future. Full text...

  • Weak local currency worries Tanzania private sector
    21 september 2006 13:36:00
    Dar es Salaam- Tanzania (PANA) -- Tanzanian business community announced here Thursday it has launched a probe into the cause of the rapidly depreciating local currency, the shilling, which hit an all time low of 1,350 to the US dollar this week. Full text...

  • Algerian gendarmerie seize 51 million fake dinars
    14 september 2006 11:50:00
    Algiers- Algeria (PANA) -- The Algerian military police have seized more 51 million forged bills of the local currency the dinar, at Oran, east of the country, police sources said here Thursday. Full text...

  • Nigeria achieves foreign exchange convergence - CBN
    28 august 2006 17:30:00
    Kaduna- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) said Monday it had achieved full convergence of exchange rates in all segments of the country's foreign exchange market. Full text...

  • SA opposition wants caution over SADC single currency
    22 august 2006 20:55:00
    Johannesburg- South Africa (PANA) – South Africa's- main opposition the Democratic Alliance (DA) has slammed the commitment by the Southern African Development Community (SADC) to establish a common currency within a decade, doubting the monetary union will automatically end the many political problems still facing southern Africa. Full text...

  • Zimbabweans throng banks to change currency
    21 august 2006 14:00:00
    Harare- Zimbabwe (PANA) -- Zimbabweans swarmed banks across the country Monday, the last day to change old bank notes for new ones as directed by government. Full text...

  • Guinean govt warns against invoicing of goods in foreign currency
    07 august 2006 22:58:00
    Conakry- Guinea (PANA) -- The Guinean Trade Ministry has warned companies doing business with the government against invoicing their goods and services in foreign currency. Full text...

  • Zimbabwe slashes three zeroes off currency
    01 august 2006 10:40:00
    Harare- Zimbabwe (PANA) -- In a major currency reform, Zimbabwe Tuesday effected the dropping of three zeroes off its currency, which inflation of more than 1 100 percent had pushed. Full text...

  • New WAMI chief visits Conakry
    21 july 2006 13:29:00
    Conakry- Guinea (PANA) -- A West African Monetary Institute (WAMI) delegation led by its new Director General, Oko Joseph Nana, has held talks here with the Guinean Senior Minister in charge of Presidential Affairs, El Hadj Fodé Bangoura, the State Radio has reported. Full text...

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