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Zimbabwe: April Inflation Rises to 4,3 Percent
[The Herald] ZIMBABWE'S headline inflation has increased by 0,05 percent to close April at 4,03 percent, official figures show. The Zimbabwe National Statistical Agency reported that the annual rate of inflation reflected an upward trend last month after a decline in the previous month.
AllAfrica | 17-May-2012 14:00

Zimbabwe: Forex Dealers Robbed
[The Herald] A foreign currency dealer allegedly gave away her colleagues to suspected robbers who posed as police officers before robbing them of US$11 000 and 50 000 Rand. Letwin Maliselo (31), who operates near Road Port, worked in cahoots with Marchael Hovhiyo Nyakwima (26) and four others who are still at large.
AllAfrica | 17-May-2012 12:51

Nigeria: EFCC Arraigns Congolese for Currency Trafficking
[Daily Trust] A 42 year-old Congolese, Seleto Papy, was yesterday arraigned before a Federal High Court in Lagos by the Economic and Financial Crimes Commission (EFCC) on a 5-count charge of unlawful possession of fake foreign currency totalling $38,400 (N6 million).
AllAfrica | 17-May-2012 09:30

Nigeria: Naira Drops N0.90 On Increased Forex Demand
[This Day] The naira continued its downswing against the United States dollar at the interbank for the third consecutive day as it fell by 90 kobo to close at N158.90 to a dollar, as against the N158 to a dollar it stood on Tuesday.
AllAfrica | 17-May-2012 09:29

Nigeria: Again, Naira Weakens On Increased Dollar Demand
[This Day] The naira maintained its downswing against the United States dollar at the interbank Monday due to renewed demand for the greenback by importers of petroleum products and others goods.
AllAfrica | 15-May-2012 19:18

Stats Service - Bawumia Got It Wrong
[Public Agenda] Acting Government Statistician Dr Philomena Nyarko says New Patriotic Party (NPP) running mate Dr Mahamudu Bawumia got it wrong with his analysis that the months-long single digit inflation rate has not translated into lower prices of goods and services in local markets as well as commensurate with low interest rates.
AllAfrica | 15-May-2012 11:19

Shilling Posts Slight Gains
[Daily News] THE shilling continued to gain in a quite day of trading last Friday but with expectations of strengthening its performance against the US dollar.
AllAfrica | 15-May-2012 06:19

Uganda: Shilling Remains Volatile
[Independent] The Uganda shilling came under pressure from the dollar dropping 1.2% percent last week touching 2495 from 2455/65 a week earlier.
AllAfrica | 14-May-2012 16:34

Rwanda: Rwanda Franc Down As Repo Rate Goes Up
[EA Business] Kigali - The Rwandan Franc depreciated by 0.4 % against the US Dollar, 3.7% against the the British Pound in the first quarter of this year forcing the Central bank to push its key repo rate slightly higher, a move that would tempt commercial banks to increase their interests.
AllAfrica | 14-May-2012 15:48

Nigeria: Naira Falls On Huge Dollar Demand
[This Day] The naira dipped against the US dollar at various segments of the forex market last week due to increased demand for the greenback.
AllAfrica | 14-May-2012 14:44

Nigeria: CBN Plans to Introduce N5000, N2000 Notes
[Leadership] In an attempt to reduce the volume of cash baggage and security exposure in cash transactions, the Central Bank of Nigeria may be contemplating the introduction of new currency denominations of N2,000 and N5,000.
AllAfrica | 14-May-2012 12:41

Nigeria: Will the Naira Run Into Troubled Waters in China?
[Leadership] Last year, when the United States of American economy tottered on the brink after big banks, formerly thought to be formidable collapse and the Bank of American almost fell, the United States dollar took a dive. When that happened, many governments caught cold, particularly central bank governors, and Nigeria was one. The Nigerian central bank governor, Sanusi Lamido Sanusi became a bit apprehensive because Nigeria's foreign reserves were all domiciled in the U.S dollars, and the dollar was becoming weaker
AllAfrica | 14-May-2012 12:41

Tanzania: Weaker Currency Theory Useless
[Daily News] The Bank of Tanzania (BoT) Governor, Professor Benno Ndulu is an academician per excellence. He defends a weak and tumbling shilling as being good for the economy. A strong shilling, he was quoted by the media as saying, could hurt exports and tourist inflows "although it could lead to a lower imports bill."
AllAfrica | 13-May-2012 08:59

Kenya: Poor Yields On Securities Drive Down Shilling
[The Star] The Kenyan shilling tumbled to a three-month low against the dollar as falling yields on government securities reduced appetite to hold the currency, traders said. High yielding government papers have attracted foreign investors and helped the shilling sustain its recovery from an all time low of 107 per dollar hit in October, but yields have been falling steadily and tumbled further this week.
AllAfrica | 11-May-2012 17:36

Africa: The Collapse of the Euro - the Fall of the CFA
[Fahamu] African countries operating under the exploitative CFA Franc must free themselves from its shackles.
AllAfrica | 11-May-2012 10:56

Kenya: Shilling Holds Firm Versus Dollar
[The Star] The Kenyan shilling eased marginally against the dollar yesterday, and traders said it could come under more pressure in coming days from demand for greenbacks from oil importers. At 0732 GMT, commercial banks quoted the shilling at 83.30/40 per dollar, barely changed from Monday's close of 83.20/40.
AllAfrica | 09-May-2012 17:05

Mozambique: Three Caught With Forged South African Rands
[AIM] Maputo - The Mozambican police have arrested three people in Namaacha, on the border with Swaziland, in possession of forged South African banknotes to the value of 350,000 rands, reports Tuesday's issue of the Maputo daily "Noticias".
AllAfrica | 08-May-2012 18:27

Kenya: KBC Loses Sh400 Million Mombasa Plot to Grabbers
[The Star] HUGE chunks of land worth millions of shillings belonging to the Kenya Broacasting Corporation in Mombasa have been grabbed. THE Parliamentary Select Committee on Communication and Energy has revealed that a prominent businessman and a senior public servant have grabbed the parastatal's land.
AllAfrica | 08-May-2012 16:53

Tanzania: Experts Forecast Shilling Stability
[Daily News] THE resumption of demand in the market is likely to exert pressure on the local currency during this week if the liquidity stance in circulation remains uncertain.
AllAfrica | 08-May-2012 14:23

East Africa: Franc Appreciates Against Regional Currencies
[New Times] The Rwandan franc gained substantially against regional currencies of Kenya, Uganda, Tanzania and Burundi in the first quarter of this year, projecting yet another growth in the country's economy.
AllAfrica | 06-May-2012 16:02

Uganda: Local Shilling Appreciates Marginally
[Independent] The Uganda shilling appreciated against the dollar closing at 2455/65 from 2500/10 with little volumes going through, says Denis Mashanyu, forex trader at Standard Chartered Bank in a statement released on May 4.
AllAfrica | 05-May-2012 13:03

Namibia: Strong Currency Hits Manufacturers
[Namibia Economist] Local manufacturers have been affected by a stronger Namibian dollar with most experiencing lower production and lower demand for their products, a manufacturing survey has shown.
AllAfrica | 03-May-2012 14:21

Nigeria: WDAs - Dollar Supply Reduces by 20 Percent in April
[This Day] The amount of United States dollars offered by the Central Bank of Nigeria (CBN) at its regulated Wholesale Dutch Auction System (WDAS) dropped by 20 per cent to $1.080 billion in April, THISDAY findings have shown.
AllAfrica | 02-May-2012 11:30

Uganda: Inflation Now At 20.3 Percent
[Independent] Uganda's annual headline inflation rate for the year ending April 2012 slowed to 20.3% down from 21.1% recorded for the year ended March 2012, Uganda Bureau of Statistics announced on April 30.
AllAfrica | 01-May-2012 11:40

Uganda: Uganda Shilling Expected to Appreciate Marginally
[Independent] Financial experts predict the Uganda shilling to appreciate marginally against foreign currencies especially the US dollar in line with the down ward trend of the country's headline inflation.
AllAfrica | 01-May-2012 11:40

Nigeria: Naira Gains On Planned Oil Firm Dollar Sales
[Leadership] The naira firmed against the United States dollar on the interbank market on yesterday, supported by speculation of planned dollar sales by two units of multinational oil companies and some banks selling down their position in anticipation of large month-end dollar flows.
AllAfrica | 01-May-2012 11:20

Egypt: $1.7 Billion Reserve to Increase Next Month
[Egypt Online] An official of the Central Bank of Egypt (CBE) on 29/4/2012 asserted that the reserves will increase next month by $1.7 billion.
AllAfrica | 30-Apr-2012 09:19

New Banknotes
[Namibia Economist] Bank of Namibia Governor, Ipumbu Shiimi announced on Thursday that the new series of banknotes has been gazetted on Tuesday, 24 April and will be issued into circulation on Tuesday, 15 May 2012.
AllAfrica | 28-Apr-2012 09:54

Zimbabwe: 'Zimdollar Settlement Stalls Foreign Direct Investment'
[The Herald] FROZEN Zimbabwe dollar accounts will remain an obstacle to new foreign direct investment, if not settled soon, a parliamentary committee chairman has said.
AllAfrica | 27-Apr-2012 08:48

Nigeria: Naira Firms Against Dollar
[Leadership] The naira firmed against the U.S dollar on both the interbank market and official window yesterday, after a unit of France Total sold about $120 million to some lenders, boosting dollar liquidity.
AllAfrica | 26-Apr-2012 12:31

Namibia: Rates Unchanged On Eurozone Worries
[Namibian] NAMIBIA'S economic growth outlook in the medium term remains "clouded by downside risks" and uncertainties haunt the eurozone, Bank of Namibia (BoN) Governor Ipumbu Shiimi said yesterday, leaving interest rates unchanged.
AllAfrica | 26-Apr-2012 11:36

Nigeria: Naira Steady At Official Market, Down At Inter-Bank
[Leadership] The Naira remained steady at the Official window - Wholesale Dutch Auction System (WDAS)- but weakened marginally against the United States dollar on the interbank market yesterday in a thin trade, as market dollar liquidity was sufficient to counter dollar demand from importers, traders said.
AllAfrica | 24-Apr-2012 16:56

Nigeria: Naira Seen Firm On Oil This Year
[Daily Trust] The naira should hold steady in the short term buoyed by higher oil prices and a tight monetary policy, but gains could be hampered by rising inflation in the second half of the year, a Reuters poll showed yesterday.
AllAfrica | 24-Apr-2012 16:45

Zimbabwe: Insight Into Nation's Multiple Currency Liquidity Crunch
[The Herald] IMAGINE those winding queues that used to form at most banking halls years ago, if that was a result of liquidity crunch then the current situation has to be addressed before we endure the same scenario. A liquidity crisis occurs when businesses
AllAfrica | 24-Apr-2012 13:25

Kwanza a Remedy for Ailing Trade
[New Era] Windhoek - The decrease in trade at the once booming border town of Oshikango could pick up only if Namibia could accept the kwanza - the Angolan currency - as legal tender, suggested Namibian businesses that are adversely affected by the decrease.
AllAfrica | 24-Apr-2012 12:52

Expert Predicts Shilling to Remain Weak
[Independent] The Uganda shilling is expected to continue depreciating against foreign currencies especially the US dollar, Denis Mashanyu, Forex Trader at Standard chartered Bank has said.
AllAfrica | 23-Apr-2012 16:33

Zimbabwe: RBZ Denies Liability for Foreign Currency Debts
[The Herald] THE Reserve Bank of Zimbabwe says it has no obligation to pay a cotton spinning company over R2,6 million withdrawn from its two bank accounts five years ago.
AllAfrica | 23-Apr-2012 15:29

Kenya: Tighter Liquidity Seen Keeping Shilling Stable
[The Star] The Kenya shilling was seen stable against the dollar yesteday, with traders saying tightened liquidity would drive up interbank rates, leaving little for the Central Bank to mop up through repurchase agreements.
AllAfrica | 19-Apr-2012 17:33

Zimdollar Packages a Tasteless Joke
[The Herald] Issues of payment of retrenchment packages agreed between workers and employers in Zimbabwe dollars before the advent of the multiple currency system continue to be brought before the dispute resolution system. Some employers stand accused of deliberately delaying payment of the packages and now want to do so in the now defunct currency.
AllAfrica | 19-Apr-2012 11:17

Nigeria: Naira Up Against Dollar On NNPC Sales
[Daily Trust] The naira rose to its highest level in five and half weeks against the U.S dollar yesterday, after the Nigerian National Petroleum Corporation sold $400 million to some banks, which boosted dollar liquidity in the market.
AllAfrica | 19-Apr-2012 11:04

Inflation Declines
[The Herald] ZIMBABWE'S headline consumer inflation declined by 0,3 percent to 4 percent in March. At 4 percent it remains one of the lowest in the Southern Africa region. The year-on-year inflation rate declined 0,3 percent from the February rate of 4,3 percent, as prices largely remained stable in the period under review.
AllAfrica | 18-Apr-2012 11:10

Kenya: Void Currency Contract Saved Nation Money - Kimunya
[Capital FM] Nairobi, Kenya - Cabinet Minister Amos Kimunya has said a string of contributing factors led to the controversial cancellation of a 2006 currency printing contract with UK printing firm De La Rue.
AllAfrica | 18-Apr-2012 07:08

Nigeria: WDAS - Naira Increases Gains On Reduced Dollar Demand
[This Day] The naira continued on the path of growth at the Wholesale Dutch Auction (WDAS) Monday due to a drop in demand for the greenback.
AllAfrica | 17-Apr-2012 16:27

Namibia: New Bank Notes Introduced At Coast
[Namibian] THE new series of Namibian banknotes launched on Namibia's 22nd anniversary by President Hifikepunye Pohamba were introduced to the coastal communities of Walvis Bay, Swakopmund and Henties Bay over the weekend.
AllAfrica | 17-Apr-2012 11:27

Tanzania: Power, Shilling Dip Cuts Cement Profits
[EA Business] Dar es Salaam - Tanzania cement industry has posted little net profit in the last financial year due to the shilling depreciation and erratic power supply that are threatening the growth of the sector.
AllAfrica | 17-Apr-2012 10:48

Namibia: Locals Not Keen On N$10 Coins
[Namibian] NAMIBIANS are reportedly reluctant to accept the N$10 commemorative coins from commercial banks in Namibia, and some banks are believed to be stuck with thousands of dollars worth of the coins in their safes.
AllAfrica | 16-Apr-2012 15:00