Economy - Currency
  • Major currency reform takes effect in Mozambique
    01 july 2006 15:00:00
    Maputo- Mozambique (PANA) -- Mozambique's currency reform, whereby three digits are knocked off the national currency, the metical, took effect on Saturday, and the new notes and coins are now beginning to circulate across the country. Full text...

  • Samora Machel returns to Mozambican banknotes
    19 june 2006 20:46:00
    Maputo- Mozambique (PANA) -- The Bank of Mozambique has decided to put the face of the man who led the country to independence and was its first President, Samora Machel, on the new banknotes that will come into circulation on 1 July. Full text...

  • Zimbabwe introduces new, higher currency denomination
    31 may 2006 15:57:00
    Harare- Zimbabwe (PANA) -- Four months after introducing ZWD50,000 note into circulation, the central bank of Zimbabwe Wednesday introduced a ZWD100,000 note, clearly depicting further economic meltdown in the country. Full text...

  • Currency reform key to Mozambique's apex bank in 2006
    18 may 2006 22:23:00
    Maputo- Mozambique (PANA) -- The central Bank of Mozambique has said t its main challenge for 2006 is to implement the currency reform approved by parliament in November, which will see the Mozambican currency, the metical, lose three digits. Full text...

  • Mozambican MPs reopen debate on currency reform
    04 april 2006 21:53:00
    Maputo- Mozambique (PANA) -- The Mozambican parliament, the Assembly of the Republic, on Tuesday reopened the debate on a proposed currency reform, following an appeal by deputies of the former rebel movement Renamo to the Constitutional Council, asking to have the reform annulled as unconstitutional. Full text...

  • Central Africa introduces new coins 29 March
    25 march 2006 13:19:00
    Yaoundé- Cameroon (PANA) -- The Bank of Central African States (BEAC) will 29 March put into circulation a new family of coins in eight denominations, the bank said in a statement issued here. Full text...

  • Togo passes bill against money laundering
    09 march 2006 23:11:00
    Lome- Togo (PANA) -- The Togolese government has passed a bill criminalising money laundering in the country, official sources affirmed here Thursday. Full text...

  • Zambian kwacha remains bullish
    17 february 2006 19:50:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha, still maintaining its strong position against the US dollar, Thursday traded between 3,300 and 3,250 units to the greenback, while most players opted to trade on a matching basis. Full text...

  • Mozambique to begin publicising new currency Sunday
    28 december 2005 19:29:00
    Maputo- Mozambique (PANA) -- As the "new family" of the Mozambican currency, the metical, will go into circulation 1 July 2006, price indications in the old and new meticals will begin on 1 January, the governor of the Bank of Mozambique, Adriano Maleiane, announced here Wednesday. Full text...

  • British firm wins new deal to print Kenya's currency
    19 december 2005 18:57:00
    Nairobi- Kenya (PANA) -- A British currency printing firm whose contract was suspended after claiming ownership of the Kenyan banknotes Monday won a shortened contract to print 1. Full text...

  • Ghana Central Bank maintains prime rate at 15.5%
    28 november 2005 23:31:00
    Accra- Ghana (PANA) -- The Monetary Policy Committee (MPC) of the Ghana Central Bank on Monday decided to maintain the prime rate at 15. Full text...

  • Mozambican parliament passes bill to simplify currency
    16 november 2005 21:22:00
    Maputo- Mozambique (PANA) -- The Mozambican parliament on Wednesday passed the first reading of a government bill designed to make the country's currency, the metical, more manageable, by lopping off the last three digits. Full text...

  • Central bank confiscates counterfeit notes in Mauritania
    15 november 2005 12:57:00
    Nouakchott- Mauritania (PANA) -- The Mauritania Central Bank (BCM) has confiscated 203 counterfeit banknotes, BCM Communication Director Mohamed Ould Ahmed Lemrabott has said here. Full text...

  • Police break up forex trafficking in Bujumbura
    02 november 2005 14:45:00
    Bujumbura- Burundi (PANA) -- Burundian police early Wednesday raided the so-called "Preferential Trade Area (PTA)" in central Bujumbura and arrested a dozen alleged foreign currency traffickers. Full text...

  • Mozambique apex bank denies forced conversion of FX accounts
    01 november 2005 21:06:00
    Maputo- Mozambique (PANA) -- The Bank of Mozambique, the country's central bank, has allayed fears that accounts held in commercial banks in foreign currency would to be forcibly converted into the local currency, meticais. Full text...

  • Zimbabwe central bank liberalises exchange rates
    20 october 2005 17:02:00
    Harare- Zimbabwe (Pana) -- Zimbabwe's central bank governor Gideon Gono Thursday announced an immediate liberalisation of exchange rates, and abolished an official currency auction system introduced last year. Full text...

  • Stonger Kenyan currency hurts exporters
    12 october 2005 13:04:00
    Nairobi- Kenya (PANA) -- The Kenyan shilling is rapidly gaining in strength due to the country's strong balance of payment position and rising trade with other countries, economists said here. Full text...

  • Gabon to host Franc zone finance ministers in April
    21 september 2005 21:52:00
    Paris- France (PANA) -- Finance ministers from the 15 Franc Zone African countries and France will meet in Libreville, Gabon in April 2006, it was officially revealed here Wednesday. Full text...

  • France rules out devaluation of CFA franc
    21 september 2005 21:19:00
    Paris- France (PANA) -- French Economy, Finance and Industry minister Thierry Breton has ruled out any possibility of a devaluation of the CFA franc. Full text...

  • Kenyan forex reserves at $1.6bn as economy grows
    09 september 2005 16:26:00
    Nairobi- Kenya (PANA) -- Boosted by a robust economy and increased cash inflows from tourism, Kenya's foreign currency reserves have so far reached US$1. Full text...

  • Kenyan govt ends currency-printing firm contract
    25 august 2005 14:52:00
    Nairobi- Kenya (PANA) -- The Central Bank of Kenya (CBK) will begin the search for a new currency- printing firm to replace its current bank notes printed by British printers Thomas De La Rue, Governor Andrew Mullei said here. Full text...

  • Nigeria to issue highest currency denomination
    12 august 2005 12:52:00
    Lagos- Nigeria (PANA) -- The much-awaited 1,000-naira banknote, which will be Nigeria 's highest currency denomination, will be issued in October, press reports said on Friday. Full text...

  • Forged banknotes flood Mauritanian markets
    22 july 2005 14:43:00
    Nouakchott- Mauritania (PANA) -- Counterfeit 1,000 and 2,000 ouguiya bills are currently found in many cash deposits in Mauritania, according to Mohamed Ould Ahmed Ould Sidina, who is in charge of general cash control at the Central Bank of Mauritania (BCM). Full text...

  • Nigerian currency in slight drop against US dollar
    10 july 2005 15:44:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the naira, depreciated by 0. Full text...

  • Zambian kwacha in narrow margin against dollar
    16 june 2005 20:01:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha was on Thursday still stuck in a narrow band of between 4,710 and 4,680 units to the US dollar as exporters and importers sought competitive rates from inter-bank players. Full text...

  • AMU boss pleads for single currency
    09 june 2005 21:46:00
    Tunis- Tunisia (PANA) -- The Secretary General of the Arab Maghreb Union (AMU), Habib Boulards, announced on Thursday in Tunis the creation of a Maghreb Investment and External Trade Bank (BMICE) that would pave the way for the adoption of a single Maghreb currency. Full text...

  • Kwacha records marginal gains
    03 june 2005 14:59:00
    Lusaka- Zambia (PANA) -- The Zambian Kwacha was a bit stronger Friday after recording marginal gains in Thursday's trading, with market analysts saying the sudden improvement could be due to increased supply of the US dollar on the foreign exchange market. Full text...

  • Nigerian Central Bank mops 100 billion naira from financial system
    28 may 2005 15:04:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) withdrew a total of 100. Full text...

  • ECOWAS shifts launch of ECOWAS currency to 2009
    11 may 2005 11:24:00
    Lagos- Nigeria (PANA) -- The Economic Community of West African States (ECOWAS) has shifted the launch of its common currency, Eco, from 2005 to 2009, according to the governor of Central Bank of Nigeria (CBN), Charles Soludo. Full text...

  • Launch of West African single currency shifted to 2009
    06 may 2005 21:32:00
    Banjul- Gambia (PANA) -- The launch of a single currency for the West African Monetary Zone (WAMZ), earlier slated for July this year, has been postponed to 1 December 2009, a statement at the end of a WAMZ summit said Friday in Banjul. Full text...

  • Nigeria spends millions to print billions
    20 april 2005 11:47:00
    Lagos- Nigeria (PANA) -- Nigeria spends 100 million US dollars annually to import the naira, its currency, because of the ineffectiveness of the country's printing and minting firm, according to Central Bank of Nigeria (CBN) governor Charles Soludo. Full text...

  • Zambian currency firm ahead of corporate tax payment
    12 april 2005 10:24:00
    Lusaka- Zambia (PANA) -- The Zambian Kwacha has appreciated against the US dollar as expectations ride high in the foreign exchange market that big companies are about to offload hard currency to cover their quarterly tax bills. Full text...

  • Uganda shilling falls against greenback
    11 april 2005 17:08:00
    Kampala- Uganda (PANA) -- The Ugandan Shilling suffered another 20 percent depreciation against the greenback as demand from mainly importers rises with low inflow in the past three-months. Full text...

  • Central bank replaces mutilated Gambian banknotes
    07 april 2005 21:21:00
    Banjul- Gambia (PANA) -- The Central Bank of the Gambia Thursday disclosed that it has replaced mutilated Gambian dalasi bank notes with new ones. Full text...

  • France to attend franc CFA zone meeting in Cotonou
    05 april 2005 21:40:00
    Paris- France (PANA) -- The French Minister for Co-operation, Development and Francophonie, Xavier Darcos will represent France at the meeting of Finance Ministers of the Franc CFA zone scheduled 6-7 April in Cotonou, official sources disclosed here Tuesday. Full text...

  • Nigerian naira stable against US dollar
    02 april 2005 15:17:00
    Lagos- Nigeria (PANA) -- In spite of the low demand for dollars at the official Dutch Auction System (DAS) segment of the Nigerian foreign exchange market this week, the naira remained Stable, trading for 132. Full text...

  • No forex crisis, says Bank of Mozambique
    25 march 2005 16:25:00
    Maputo- Mozambique (PANA) -- The sale of foreign currency by the Bank of Mozambique amounted to 145 million US dollars between December 2004 and February this year. Full text...

  • Malawi faces foreign exchange drought
    23 march 2005 11:56:00
    Blantyre- Malawi (PANA) -- Malawi's banks and money dealers have stopped selling foreign currency because the country has depleted its foreign exchange reserves. Full text...

  • Nigerian naira falls slightly against US dollar
    19 march 2005 14:48:00
    Lagos- Nigeria (PANA) -- The Nigerian naira depreciated by 0. Full text...

  • Zambian kwacha maintains relative stability
    15 march 2005 14:47:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha currency has maintained its soft but steady appreciation, and when markets resumed business on Tuesday, it was exchanging at a firmer selling rate of 4,745 units against the US dollar while its buying rate was pegged at 4,695 units. Full text...

  • Drop in dollar demand raises naira value in Nigeria
    05 march 2005 19:38:00
    Lagos- Nigeria (PANA) -- Demand for dollars dipped slightly at the Nigerian foreign exchange market this week, impacting positively on the exchange rate of the local currency, the naira, against the dollar. Full text...

  • Shilling's appreciation worries Kenyan flower exporters
    02 march 2005 15:05:00
    Nairobi- Kenya (PANA) -- Fresh flowers and vegetable exporters in Kenya Wednesday expressed concern over the strengthening of the local Shilling against the US dollar, saying this would negatively impact on the price of fresh flower and vegetable exports to Europe. Full text...

  • Kenyan police seize fake dollars
    01 march 2005 17:31:00
    Nairobi- Kenya (PANA) -- Kenyan police on Tuesday seized counterfeit 100-dollar bills amounting to $1,732,600 in Nairobi, arresting three suspects in the process following three months of investigations into a group of fake currency dealers, police sources said. Full text...

  • Nigerian naira in slight fall against US dollar
    26 february 2005 14:19:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the naira, depreciated by 0. Full text...

  • Nigeria delays introduction of 1,000-naira note
    22 february 2005 20:34:00
    Lagos- Nigeria (PANA) -- The introduction of 1,000 naira ($7. Full text...

  • Nigerian currency stable against US dollar
    19 february 2005 11:53:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the naira, remained stable against the US dollar at the official Dutch Auction System (DAS) segment of the Nigerian foreign exchange market this week, as it is still being exchanged for 132. Full text...

  • Angolan bank circulates 2,000 kwanza banknotes
    17 february 2005 08:31:00
    Luanda- Angola (PANA) -- The National Bank of Angola on Wednesday issued into circulation a 2,000 kwanza banknote ($1 = 87 Kwanza) as part economic stabilisation measures initiated by the government in August 2003. Full text...

  • Interbank-exchange rates of the Ghanaian cedi
    14 february 2005 21:22:00
    Accra- Ghana (PANA) -- Following are the average inter-bank exchange rates of major currencies against the cedi, as issued Monday by the Ghana Association of Bankers: Currency Buying Selling US Dollar 8,955. Full text...

  • IFC launches dirham bonds in Morocco
    08 february 2005 09:42:00
    Dakar- Senegal (PANA) -- The International Finance Corporation (IFC) of the World Bank Group has launched dirham denominated bonds in the domestic Moroccan capital market, a release indicated Tuesday. Full text...

  • Nigerian naira slightly gains against US dollar
    06 february 2005 11:02:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the naira, slightly appreciated against the US dollar despite a high demand for the greenback at the Dutch Auction System (DAS) segment of the Nigerian foreign exchange market this week. Full text...

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