Tag Archives: dollar

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 …

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 …

By Joseph Were and agencies On which side will BoU intervene, if at all? The weakening of currencies in the East African region against the U.S. dollar experienced in the last two weeks is likely to persist, according to analysts. Dollar demand by offshore investors and the corporate sector to …

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 …

By Patrick Kagenda Basing on reduced US dollar remittances into the economy last December, Forex market operators are warning of a further battering of the shilling. Experts fear the dollar scarcity that led its value to shot up by 30% from Shs 1,700 to the dollar to Shs 2,200 before …

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 …