Tag Archives: dollar

NAIROBI, KENYA | Xinhua | The Kenyan shilling strengthened against major world currencies, hitting a nine-month high against the U.S. dollar Wednesday. The Central Bank of Kenya placed the shilling against the dollar at 138.8, its highest level since the currency started to decline in June last year. The shilling …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda admits limited options against the depreciation of the Shillings, as it stares at the dwindling foreign exchange (FX) reserves. The Uganda Shilling traded at 4,000 to a dollar for the first time at a bank, as the depreciation trend continues for the …

Kampala, Uganda | THE INDEPENDENT |  The Uganda Shilling continues to trade under pressure from the US dollar as demand for the US currency rises above the supply, according to experts. On Monday, the local currency opened trading at Shillings 3,815.63 buying and 3,825.63 selling according to the official rates …

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 …

Kampala, Uganda | THE INDEPENDENT | On Sept.21 Old Mutual Investment Group launched the first-ever dollar unit fund in Uganda, a move aimed to diversify and add to the quality of the investment opportunities on the market. The account was launched with an effective 5% annual interest rate, compared to the …

Kampala, Uganda | THE INDEPENDENT  | There is concern that the suspension by the World Bank of new loans to Uganda could influence other development finance institutions to take similar actions. If that happens, the country could be forced to take drastic measures and options to avoid the possible impact. …

The Fed’s dramatic interest-rate hikes have had dire implications for debt sustainability in the developing world COMMENT | HIPPOLYTE FOFACK |  The US Federal Reserve’s decision to raise interest rates by 475 basis points over the course of 12 months, in a bid to curb inflation, was bound to be …

New York, US | Xinhua |  The U.S. dollar firmed up in late trading on Wednesday as U.S. leaders expressed optimism over debt limit negotiations. The dollar index, which measures the greenback against six major peers, increased 0.31 percent at 102.8819 in late trading. In late New York trading, the …

Tokyo, Japan | Xinhua |   Japan’s benchmark Nikkei stock index rose for a fifth straight day on Thursday as hopes for the domestic retail sector lifted the market mood, although financial stocks dragged on continued concerns over a U.S. recession. The 225-issue Nikkei Stock Average gained 74.27 points, or 0.26 …

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” …