Search Results: "currency"
Headlines Africa
Welcome
Login / Register

Search Results: "currency"


  • 02:55 Nigeria Central Banks Bans Foreign Currency Deposit

    Nigeria Central Banks Bans Foreign Currency Deposit

    by Headlines Africa Added 450 Views / 0 Likes

    Nigeria's central bank announced a ban on cash deposits in foreign currency in a bid to strengthen the naira, which has come under increased pressure against the dollar since oil prices plunged last year.

  • 01:46 Uganda's Currency Raises Concerns

    Uganda's Currency Raises Concerns

    by Headlines Africa Added 430 Views / 0 Likes

    The Ugandan Shilling crawled up to 3,690 to the dollar after it slumped to record lows in the previous session. The currency which has lost 25% of its value since January, is feeling the pinch from weak commodity prices like other sub-Saharan currencies.

  • 02:34 Economic Slowdown & Falling Currency Hurts Ugandan Manufacturers

    Economic Slowdown & Falling Currency Hurts Ugandan Manufacturers

    by Headlines Africa Added 396 Views / 0 Likes

    Almost 90% of the raw materials needed by local manufacturers in Uganda are imported. And the depreciating value of the Ugandan shilling is making it too expensive to acquire the dollar, which could see local producers out of business.

  • 02:45 Shortage Of Foreign Currency Deterring Ethiopia's Development

    Shortage Of Foreign Currency Deterring Ethiopia's Development

    by Headlines Africa Added 330 Views / 0 Likes

    The fast growing Ethiopian economy has been experiencing a shortage of foreign currency for close to ten years now. Large and small Manufacturers as well as importers are seriously affected.

  • 01:33 Zimbabwe Businesses And Citizens Welcomes New Currency

    Zimbabwe Businesses And Citizens Welcomes New Currency

    by Headlines Africa Added 496 Views / 0 Likes

    Zimbabwe has designated the yuan as an official currency. The use of the Yuan as legal tender in the country begins this year. Zimbabwe announced that it will expand the use of the Chinese yuan after China cancelled 40 mln US dollars worth of debt to the

  • 03:26 South Africa Currency Fears

    South Africa Currency Fears

    by Headlines Africa Added 356 Views / 0 Likes

    South Africans are in for more pain as the local currency is expected to remain weak for some time. The Rand has plunged to levels never seen before. The currency spent most of 2015 in weaker territory but it was in December when the Rand took a sharp div

  • 02:07 High Prices And Currency Crisis Cripple Zimbabwe’s Tourism Industry

    High Prices And Currency Crisis Cripple Zimbabwe’s Tourism Industry

    by Headlines Africa Added 371 Views / 0 Likes

    Stakeholders in its tourism sector have been encouraged to streamline their operations in response to a drop in revenue in the once-booming industry. Some suggestions are, upgrading payment systems and reducing prices for domestic tour packages.

  • 01:56 Uganda's Currency Continues to Fall To The U.S. Dollar

    Uganda's Currency Continues to Fall To The U.S. Dollar

    by Headlines Africa Added 359 Views / 0 Likes

    After months of stability, Uganda's currency has lost ground to the U.S. dollar.The Bank of Uganda says the volatility is due to increased demand for the dollar, especially from the oil sector. On Friday, the shilling was trading at three thousand four hu

  • 02:20 Prices Of Basic Commodities Soar On Weaker Currency In DRC

    Prices Of Basic Commodities Soar On Weaker Currency In DRC

    by Headlines Africa Added 451 Views / 0 Likes

    Residents of the DRC capital Kinshasa say they're struggling to cope with inflation, as a weakening Congolese franc has led to higher prices of food and other basic commodities. Analysts say the Congolese franc has lost more than 6 per cent of its value a

  • 02:52 Release Of Controversial Zimbabwe Bond Notes Pushed Back To November

    Release Of Controversial Zimbabwe Bond Notes Pushed Back To November

    by Headlines Africa Added 374 Views / 0 Likes

    Zimbabwe’s central bank has shifted launch dates for local bond notes from October to November. The controversial notes have been the cause of heated debate, with some fearing they could trigger inflation last seen during the Zimbabwe dollar era. The gove

  • 00:34 President Mugabe Effects Law For Introduction Of New Currency

    President Mugabe Effects Law For Introduction Of New Currency

    by Headlines Africa Added 468 Views / 0 Likes

    Zimbabwean President Robert Mugabe has issued a decree clearing the way for the introduction of "bond notes" in the country. The idea has been a cause for concern since it was first announced with many fearing that it could be a back route for the introdu

  • 01:23 Egypt Lands $2.7 Billion Currency Swap Deal With China

    Egypt Lands $2.7 Billion Currency Swap Deal With China

    by Headlines Africa Added 471 Views / 0 Likes

    Egypt has reached a currency swap agreement with China valued at $ 2.7 B. That moves Egypt ever closer to meeting the terms required to clinch a $ 12 B loan deal with the International Monetary Fund. The deal is reportedly being processed by officials fro

  • 01:25 Zimbabwe's President Provides Legal Basis For Issuance Of Bond Notes

    Zimbabwe's President Provides Legal Basis For Issuance Of Bond Notes

    by Headlines Africa Added 393 Views / 0 Likes

    President Robert Mugabe has issued regulations clearing the way for the issuance of 'bond notes.' The notes are a surrogate currency Zimbabwe's government hopes will ease a biting US dollar bank note shortage. President Mugabe used the Presidential Powers

  • 01:05 Egypt Removes Petrol Price Subsidies After Devaluing Currency

    Egypt Removes Petrol Price Subsidies After Devaluing Currency

    by Headlines Africa Added 362 Views / 0 Likes

    Egyptians woke up to increased petrol prices, a day after the government announced that it was devaluing its currency, the pound. Petrol prices are up by between 15 and 20 percent as the government implements a raft of austerity measures aimed at reformin

  • 02:48 Egyptian Pound Remains Weak, Investors & Traders Welcome Devaluation

    Egyptian Pound Remains Weak, Investors & Traders Welcome Devaluation

    by Headlines Africa Added 350 Views / 0 Likes

    The Egyptian pound remained weak on Monday, its second day of trading in the free market. However, traders and investors in the country have welcomed the devaluation and they are optimistic that the local unit will recover, if investments start to flow ba

  • 02:47 Currency Shortage In Zimbabwe Prompts Overnight Queuing Outside Banks

    Currency Shortage In Zimbabwe Prompts Overnight Queuing Outside Banks

    by Headlines Africa Added 351 Views / 0 Likes

    A shortage of bank notes in Zimbabwe has seen some people spending the night queuing outside banks. The country has been experiencing a dearth of the preferred U.S. dollar for some months now. Officials are due to introduce local bond notes this month to

  • 01:56 Zimbabwe's Local Quasi-currency Begins Circulating In The Country

    Zimbabwe's Local Quasi-currency Begins Circulating In The Country

    by Headlines Africa Added 371 Views / 0 Likes

    Bond notes, a local quasi-currency, will begin circulating in Zimbabwe on Monday. The country's central bank made the announcement Saturday ending months of speculation about their release date, which had been postponed twice. Farai Myakutuya has more.

  • 01:42 Currency Crisis Hits Egyptian Pharmaceutical Companies

    Currency Crisis Hits Egyptian Pharmaceutical Companies

    by Headlines Africa Added 387 Views / 0 Likes

    Hospitals and pharmaceutical companies in Egypt are being hammered by the floating of the Egyptian Pound. A policy which set limits on the prices of drugs is compounding the pain, by making domestic medicine manufacturing, non-viable. Some hospitals have

  • 00:40 Zimbabwe Starts Circulating A $5 Note

    Zimbabwe Starts Circulating A $5 Note

    by Headlines Africa Added 342 Views / 0 Likes

    Zimbabwe has started circulating a 5 dollar bond note. [TAKE VO]The southern African nation introduced a 2 dollar note and 1 dollar coin last November to ease the cash shortages. The country has been struggling with a cash crunch that has forced people to

  • 02:30 Bitcoin Takes Cash-strapped Zimbabwe By Storm

    Bitcoin Takes Cash-strapped Zimbabwe By Storm

    by Headlines Africa Added 373 Views / 0 Likes

    The crypto-currency has taken the southern African nation by storm thanks mostly to an ongoing liquidity shortage. Farai Mwakutuya has this story.