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Tag Archives: currency

Nigeria to stop defending naira

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 …

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EAC currencies steady

By Julius Businge The three East African currencies of Kenaya, Uganda and Tanzania remained steady trading a narrow range throughout the week ending March 23. “It was a sideways market for most of the trading sessions of the week with no uptrend or downtrend clearly established,” said Stephen Kaboyo a …

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Ugandan shilling falling further

By Julius Businge The Ugandan shilling fell against foreign currencies notably the dollar on Wednesday, dealers said. Commercial banks quoted the currency of Africa’s largest coffee exporter at 2,587/2,597, weaker than Tuesday’s close of 2,575/2,585. “There is some depreciation of the local currency as a result of better liquidity conditions …

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