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Tag Archives: dollar

NGOs inflows and exports help Uganda Shilling stay strong

Kampala, Uganda | THE INDEPENDENT | The Uganda shilling has appreciated by at least 5.2% against the dollar since March, thanks partly to money coming into non-governmental organizations and low demand for dollars by importers. According to the quoting this month by forex bureaus, the shilling has gained as much …

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Could cryptocurrency dethrone the US dollar?

London, United Kingdom | AFP | Bank of England governor Mark Carney has suggested that a virtual currency, modelled on Facebook’s Libra, could one day replace the dollar as king of the foreign exchange market. The BoE chief aired vague proposals for a so-called “Synthetic Hegemonic Currency” at the recent …

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Dollar losses mount as investors spooked by Mnuchin comments

Hong Kong, China | AFP | The dollar took another beating on Thursday after two of Donald Trump’s top cabinet members talked down the currency and hinted at a more belligerent trade policy. The sell-off in the greenback especially hit exporters on Japan’s Nikkei index, which tumbled for a second straight …

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Nigeria to stop defending naira

Abuja, Nigeria | AFP | Nigeria signalled Wednesday it will ease currency controls, opening the door to a plunge in the value of the naira, after the restrictions were blamed for stifling the economy. Central Bank of Nigeria (CBN) governor Godwin Emefiele said in a televised speech from Abuja that …

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What can replace the dollar?

By Barry Eichengreen The US debt-ceiling fiasco has raised doubts about the advisability of holding dollars, while Europe’s debt crisis has fueled doubt on the euro’s survival. For more than a half-century, the US dollar has been not only America’s currency, but the world’s as well. It has been the …

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Dollar to hit Shs 2,500, analysts say

By Patrick Kagenda BoU says it has no means of forecasting value of currency A top Bank of Uganda official last week confirmed the continuing depreciation of the shilling. Mary Katalikawe, the director for research at the central bank spoke as the world’s leading financial market analysts predicted that the …

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Skyrocketing dollar versus shilling

By Patrick Kagenda `I have the capacity to burn Forex speculators’ fingers’ As the world financial crisis takes center stage in all global discussions, The Independent’s Patrick Kagenda recorded Uganda Central Bank governor Emanuel Tumusime Mutebile’s answers to the press on why the American dollar has shot skywards and its …

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