AllAfrica News: Currencies

South Sudan: Currency Loses More Value Amid Plans to Change It

Fri, 23 Oct 2020 05:21:04 GMT

[East African] South Sudan's currency drastically depreciated against the dollar last week, just after the government announced plans to change it, an indication that more currency hoarders had surrendered the now seemingly old notes.

Kenya: CBK Opens New Centre Kisii to Ease Circulation of Money in South Nyanza Region

Thu, 22 Oct 2020 12:56:33 GMT

[Capital FM] Nairobi -- Central Bank of Kenya has opened a new center in Kisii with the aim of easing the circulation of money in the larger south Nyanza region.

Central Africa: Criminals Use Money Transfers to Move Cash

Wed, 21 Oct 2020 17:18:43 GMT

[International Consortium of Investigative Journalists] How companies like Western Union and MoneyGram play a hidden role in laundering cash from around the globe.

Rwanda: Rwanda Anticipates Rebound in Mineral Output to Shore Up Forex Revenues

Wed, 21 Oct 2020 07:17:18 GMT

[New Times] Rwanda is looking at ways to increase production of minerals to attract more foreign exchange earnings following the Covid-19 outbreak, which has hurt the sector's fortunes.

Ethiopia: The Proper Period to Measure the Impact of the Currency Change On the Economy

Tue, 20 Oct 2020 15:40:08 GMT

[Ethiopian Herald] Ethiopia has recently unveiled new currency notes to replace the existing 10, 50 and 100 Birr notes and the new 200 Birr note. The changed and newly introduced notes are being distributed. It is hoped that the changes will have many economic, social and political benefits. The current fiscal year is also expected to see a significant change in the country's economy.

Ethiopia: Central Bank to Decide On Old Note Disposal

Tue, 20 Oct 2020 15:04:53 GMT

[Addis Fortune] The National Bank of Ethiopia (NBE) is considering three options for how to dispose of the old banknotes that are going to be fully redeemed in two months. Burning, shredding the banknotes to turn them into bricks or buying a machine that cuts them into pieces the size of confetti are the options that have been tabled to the Governor for approval.

Zimbabwe: Man Robbed of Forex While Praying

Tue, 20 Oct 2020 08:43:54 GMT

[The Herald] A Beitbridge man lost US$200, R10 000, seven cellphones and various goods to five armed robbers who attacked him while he was praying alone in a bushy area, as such cases continue to rise in the border town.

Zimbabwe: Ban On Mobile Money Adds to Suffering of Citizens

Mon, 19 Oct 2020 05:57:42 GMT

[Africa In Fact] The Reserve Bank of Zimbabwe, which has also closed the stock exchange over forex concerns, has hit people already losing livelihood options during the Covid-19 lockdown hard

Zimbabwe: Zimdollar Return - Chickens Are Coming Home to Roost

Fri, 16 Oct 2020 08:58:02 GMT

[Zimbabwe Independent] WAGE disputes, which include the standoff between President Emmerson Mnangagwa's government and teachers, are the culmination of a premature decision by government to re-introduce the Zimbabwe dollar last year.

Zimbabwe: Regulator Warns Manufacturers Against Setting Maximum Prices

Fri, 16 Oct 2020 08:55:38 GMT

[New Zimbabwe] THE Competition and Tariffs Commission (CTC) has issued a stern warning against manufacturers who are in the habit of setting maximum selling prices for retail and wholesale outlets highlighting that such practices contradicted the set law.

Ethiopia: Demonetisation Revives Gold Demand, Black Market

Thu, 15 Oct 2020 12:40:32 GMT

[Addis Fortune] Following the federal government's recent demonetisation policy that exchanges old banknotes for new versions with different designs, jewellery dealers in Piassa are seeing a sudden surge in purchases of gold items. Additionally, the parallel market for foreign currency has witnessed many new buyers, writes MICHAEL GETASETEGNE, FORTUNE STAFF WRITER.

Zimbabwe: VFEX, RBZ Agree On Foreign Currency Transactions Clearance Services

Thu, 15 Oct 2020 08:23:11 GMT

[New Zimbabwe] The Victoria Falls Stock Exchange Limited (VFEX) has signed a Memorandum of Understanding (MOU) with the central bank on the clearance of foreign currency transactions services.

Zimbabwe: Central Bank Forex Auction Allocates U.S.$29 Million As U.S. Dollar Maintains Stability

Thu, 15 Oct 2020 07:47:11 GMT

[New Zimbabwe] THE Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction Tuesday allotted a total US$29.2 million to participating companies amid calls by labour for government to rein in errant businesses violating exchange rates in their pricing.

Ethiopia: NBE Announces Embassies' Readiness to Change Old Banknotes

Wed, 14 Oct 2020 08:43:32 GMT

[Ethiopian Herald] The National Bank of Ethiopia said that Ethiopian foreign missions will start changing old banknotes with the new ones to address the demands of citizens working overseas.

Ethiopia: Central Bank Alters Forex Allocation Rules

Tue, 13 Oct 2020 14:09:08 GMT

[Addis Fortune] The National Bank of Ethiopia (NBE) has removed fuel from the list of import items that will get first priority in foreign currency allocation. Now the central bank lists only pharmaceutical products under the first priority category.

Malawi: Country Loses Over U.S.$15,9 Million Annually to Replace Damaged Currency

Mon, 12 Oct 2020 11:22:04 GMT

[Malawi News Agency] Lilongwe -- Reserve Bank of Malawi (RBM) has said a tendency of folding and placing banknotes in wet places by different users in the country has contributed to the loss of the currency worth over K12 billion annually.

Kenya: CBK spends Sh800 Million More as Kenyans Say New Notes Wear Out Faster

Fri, 09 Oct 2020 06:14:30 GMT

[Nation] Currency production expenses have increased by Sh833 million amid concerns new bank notes are wearing out much faster.

Africa: Cryptocurrency Transactions On the Rise on the Continent

Fri, 09 Oct 2020 05:38:00 GMT

[DW] Cryptocurrency transactions in Africa are growing rapidly. On a continent that already embraces mobile money, virtual currency offers advantages for a young, tech-savvy population.

Namibia: Sioka in Storm Over N$1,4m Shacks

Thu, 08 Oct 2020 13:11:37 GMT

[Namibian] THE minister of gender equality and child welfare, Doreen Sioka, has denied claims that the government paid over N$1,4 million to build 33 corrugated zinc shacks for members of a marginalised community in Kavango West region.

Liberia: CBL Wants More Banknotes Printed

Thu, 08 Oct 2020 07:47:38 GMT

[Observer] The Executive Governor of the Central Bank of Liberia (CBL), J. Aloysius Tarlue, Jr., has disclosed that the country will still need additional banknotes to be printed to address the mutilated notes on the market.