Tag Archives: currency

Ethiopia and Kenya may become Africa’s first countries to repay Chinese loans in Beijing’s currency. It’s the latest in a wider de-dollarization trend that is sweeping across the continent. SPECIAL REPORT | BIRD AGENCY | Ethiopia and Kenya are turning to the Chinese yuan, seeking relief from the high cost …

Why Donald Trump’s policies could hasten the dollar’s relegation from being the only world currency COMMENT | DAVID MCMILLAN | Donald Trump’s victory in November’s U.S. presidential election saw the U.S. dollar strengthen. It surged to a one-year high within two weeks, and has since retained its strength against its major …

Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling ended the year 2023 on a stronger note, having stabilized against the US Dollar, and did better than its peers in the East African Community, according to analysts. The currency strength has fluctuated between 3,767 and 3,815 to the US dollar over …

NEWS ANALYSIS | THE INDEPENDETN | The Kenya Shilling has steadily been declining against most currencies, including global leaders like the US Dollar and regional currencies, mainly the Uganda and Tanzania Shilling. For so long, the Uganda Shilling traded at an average of 30 to the Kenya Shilling and one …

Juba, South Sudan | THE INDEPENDENT |  When the hackers seized the website of the central bank of South Sudan late last week, it was the reason that the hijackers gave that raised more concern about the country’s economy than the attack itself. The hackers, calling themselves “Anonymous South Sudan” …

Monetary authorities could introduce a digital currency to make the payments system more fluid COMMENT | Jan Eeckhout | Last year, the Nobel Prize in Economics went to two economists who study the dynamics of bank runs, as well as to former U.S. Federal Reserve Chair Ben Bernanke for his work analyzing …

BOU clarifies that currency notes bearing Dep Governor’s signature are genuine Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has clarified on the Deputy Governor’s signature on currency notes, allaying fears that the notes could be fake. Since last month, pictures of currency notes bearing the signature of Dr …

Kampala, Uganda | THE INDEPENDENT | Reducing reliance on the US dollar necessitates satisfying financing requirements in local currency and enhancing local financial institutions Whenever I meet clients and investors, the one discussion I always end up having, regardless of market conditions, is on currency markets. There are often strong views …

Abuja, Nigeria | Xinhua | Nigerian President Muhammadu Buhari on Wednesday launched the re-designed local banknotes to control the supply of the Nigerian naira, the local currency of the most populous African country. Speaking during the unveiling of the locally-produced currencies in Abuja, the Nigerian capital, Buhari explained in detail the basis …

Nairobi, Kenya | Xinhua |  Kenya’s foreign exchange reserves fell a record 49 billion shillings (about 428 million U.S. dollars) this week as the shilling hit a new low amid strong dollar demand from importers. The Central Bank of Kenya (CBK) said in its weekly update of the financial markets …