Tag Archives: currency

Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling ended the year 2023 on a stronger note, having stabilized against the US Dollar, and did better than its peers in the East African Community, according to analysts. The currency strength has fluctuated between 3,767 and 3,815 to the US dollar over …

NEWS ANALYSIS | THE INDEPENDETN | The Kenya Shilling has steadily been declining against most currencies, including global leaders like the US Dollar and regional currencies, mainly the Uganda and Tanzania Shilling. For so long, the Uganda Shilling traded at an average of 30 to the Kenya Shilling and one …

Juba, South Sudan | THE INDEPENDENT |  When the hackers seized the website of the central bank of South Sudan late last week, it was the reason that the hijackers gave that raised more concern about the country’s economy than the attack itself. The hackers, calling themselves “Anonymous South Sudan” …

Monetary authorities could introduce a digital currency to make the payments system more fluid COMMENT | Jan Eeckhout | Last year, the Nobel Prize in Economics went to two economists who study the dynamics of bank runs, as well as to former U.S. Federal Reserve Chair Ben Bernanke for his work analyzing …

BOU clarifies that currency notes bearing Dep Governor’s signature are genuine Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has clarified on the Deputy Governor’s signature on currency notes, allaying fears that the notes could be fake. Since last month, pictures of currency notes bearing the signature of Dr …

Kampala, Uganda | THE INDEPENDENT | Reducing reliance on the US dollar necessitates satisfying financing requirements in local currency and enhancing local financial institutions Whenever I meet clients and investors, the one discussion I always end up having, regardless of market conditions, is on currency markets. There are often strong views …

Abuja, Nigeria | Xinhua | Nigerian President Muhammadu Buhari on Wednesday launched the re-designed local banknotes to control the supply of the Nigerian naira, the local currency of the most populous African country. Speaking during the unveiling of the locally-produced currencies in Abuja, the Nigerian capital, Buhari explained in detail the basis …

Nairobi, Kenya | Xinhua |  Kenya’s foreign exchange reserves fell a record 49 billion shillings (about 428 million U.S. dollars) this week as the shilling hit a new low amid strong dollar demand from importers. The Central Bank of Kenya (CBK) said in its weekly update of the financial markets …

Frankfurt, Germany | Xinhua | The euro, a currency shared by 19 European countries, has won overwhelming support among the 340 million Europeans since it went into circulation 20 years ago. The idea of a single currency for Europe, which originated in 1970 when policy makers in Europe hoped to achieve …

Kampala, Uganda | THE INDEPENDENT | Members of Parliament have disagreed with members of the Landlord and Developers Association over the currency of rent payment, with MPs standing their ground on the Uganda shilling. The association led by its chairperson, Godfrey Kirumira, had appealed to the Committee on Physical Infrastructure to …