Tag Archives: US dollar

NAIROBI, Kenya | Xinhua | The Kenya shilling strengthened against the U.S. dollar Friday to close the week at the 130 mark, the strongest level in about a year. The Central Bank of Kenya (CBK) quoted the local unit at 130.7 shillings against the dollar Friday, as the local currency …

New York, US | Xinhua |  The U.S. dollar fell on Wednesday, after the Federal Reserve delivered a widely-expected interest rate hike. The dollar index, which measures the greenback against six major peers, fell 0.49 percent to 100.9027 in late trading. The Federal Open Market Committee (FOMC) decided to raise …

Why African countries that are feeling the pain are left with few and challenging policy options COMMENT | JONATHAN MUNEMO | The U.S. dollar has been advancing rapidly in response to the Federal Reserve’s resolve to keep raising policy rates for longer to regain control of stubbornly high inflation. This has …

Appreciation was mainly driven by inflows from offshore investors, NGOs, coffee export receipts and non-financial institutions amidst demand from oil Kampala, Uganda | THE INDEPENDENT | Uganda Shillings current strength against the United States Dollar is causing discomfort within the business community, considering how it might boost or affect their operations. The Uganda …

Kampala, Uganda | THE INDEPENDENT | The Uganda shilling has started losing its strength against the US Dollar in a reverse trend that had seen the local currency remain strong during and after the lockdown period. In a trend that surprised observers, the shilling held steady when diaspora remittances, offshore …

Harare, Zimbabwe | AFP | Zimbabwe has re-introduced the use of foreign currency for domestic transactions in what was seen as a bid to tap into private forex savings as the country gears up for the battle against the novel coronavirus. In a statement the central bank governor John Mangudya said the move is part …

Harare, Zimbabwe | AFP | Zimbabwe will re-introduce a local currency “in less than 12 months”, after using the US dollar and regional currencies since a hyperinflation crisis a decade ago, the finance minister said in an interview published on Saturday. President Emmerson Mnangagwa, who took over from long-time ruler Robert Mugabe and won a …

The first week of October has not been smooth sailing for the Uganda shilling.  By close of the trading week that ended Oct. 07, the local currency had run down from Shs 3,385/3,395 on Sept.30 to Shs 3,405/3,415 to the US dollar, representing a loss of Shs 20. This is …

By Julius Businge The Uganda shilling appreciated during the week that ended July 5 to trade 2575/85 from 2590/00 per US dollar after policy makers maintained the key lending rate at 11% citing inflationary pressures. Traders said the market saw good dollar selling interest before energy and manufacturing sub-sectors’ demand squared off …

By Julius Businge The Uganda Shilling is forecast to stabilise as the high US dollar demand from importers, which sent the local currency tumbling to a 13-month low in recent days, starts to recede, according to Dickson Magecha, the Forex Trader at Standard Chartered Bank Magecha said at the end …