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BRIAN Towanda sits with his wife on a sofa counting down the days to January 15 -- the day his spouse's gynaecologist said she would deliver their first child.
IT was free fall for the Naira in the inter-bank and parallel markets yesterday, losing N4.50 as the Central Bank (CBN) suspended further sales of forex.
SA's gold and foreign exchange reserves rose 2,7% last month, boosted mainly by the effect of higher gold prices and weakness in the dollar, official data showed yesterday.
Currency in circulation reached N1.2 trillion by the end of last year, showing an increased difference of N167 billion between November and December, the News Agency of Nigeria (NAN) reports.
Grocery purchases, public hospital bills, property sales, rent, legal fees, vegetables and even mobile phone recharge cards in Zimbabwe are now paid for in foreign currency as the worthless Zimbabwe dollar virtually ceases to be legal tender.
For the second time this week, the Central Bank (CBN) depreciated the value of the naira as the official exchange rate rose by N3.4 yesterday.
The Media Institute of Southern Africa (MISA) has expressed concern that the charging for mobile phone services in foreign currency by all the major networks is seriously impeding the right of Zimbabweans to communicate.
The Ghana cedi appreciated against the UK Pound and Euro, but continued to fall against the US dollar to push the Gold Coast Securities (GCS)-Cedi Index down by 0.30 points. The Index, which measures the average performance of the cedi against its major trading currencies, went down at 118.12 points from 118.42 points last Friday.
A foreign exchange crisis is looming over the economy as the Central Bank of Nigeria (CBN) suspended sales yesterday.
The progressive 'dollarisation' of Zimbabwe has extended to rural areas, where dwellers now sell their fresh produce in U.S. dollars.
Chukwuma Soludo, the governor of the Central Bank of Nigeria (CBN), is probably the luckiest Nigerian to manage the bankers' bank in the world's most populous black nation. He became governor at a time when the naira had plunged to N128 to the dollar in the official market while the exchange rate at the parallel market was anything from N140. The naira appreciated to N116.50 to the dollar under ...
THE Central Bank (CBN) has further depreciated the Naira as it increased the official exchange rate to N135.62 per dollar. This represents 435 kobo or 3.3 per cent depreciation when compared with closing rate of N131.27 last week.
THE rand started the year on an upbeat note, but opinion is divided on whether it will reap the rewards of an expected revival in global appetite for risk.
GOVERNMENT is still considering fee applications submitted by schools and will tomorrow announce its position regarding the charging of the fees in foreign currency.
PUBLIC hospitals have been given the green light to charge for all medical services in foreign currency; a development many hope will improve service delivery.
Nigerians are deeply religious people and with the economic meltdown hitting hard on the people, there could be no better time to seek divine intervention as the new Finance Minister now calls for prayers to stir the economic ship successfully, Lucky Fiakpa writes
(WDAS) rose sharply by 26 per cent in 2008 even as the nation's currency Naira suffered 14.6 per cent depreciation on the average across the three segment of the market.
FARMERS in Masindi District are growing a medicinal shrub, ocimum (omujaaja). Gerald Tenywa assesses the prospects of this plant and asks why Government is reluctant on it's growing and processing.
FOR the poor working masses, as usual, there is nothing to cheer at the 2009 budget presented by President Umaru Musa Yar'Adua.
OFFICIALS of the Central Bank of Nigeria (CBN) may have to review the on-going nationwide campaign against the abuse of the naira because the message appears not to have sunk into the ears of most people, as the usual spraying of the naira occurred unhindered during ceremonies that took place this Yuletide season, especially in the South East.
THE introduction of the Foreign Exchange Licensed Warehouses and Retail Shops facility authorising businesses to sell goods and services in foreign currency, and the mushrooming of other unlicensed outlets has dealt a near-death blow to the illegal foreign currency market as fewer people are changing their hard currency into Zimbabwe dollars.
THE Reserve Bank of Zimbabwe has warned of the dangers of using fuel coupons as currency.
The American dollar exchanged for N150 at the black market in Lagos yesterday following the closure of the foreign exchange market to the banks and Bureaux de Change (BDC) by the Central Bank of Nigeria (CBN) for the Christmas and New Year holidays.
MOST banks in Bulawayo have run out of smaller denominations, a development that has seen some account holders failing to withdraw money as they are being asked to bring change.
The year-to-date Ghana cedi depreciation to the dollar now stands at 24.57 per cent, the Gold Coast Securities (GCS)-Cedi Index has shown.
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