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Tag: currency
De-dollarization in Africa: could BRICS currencies challenge greenback?
A recent report by Sputnik Africa claiming that the use of the Russian ruble for trade between Russia and Africa has more than doubled since ... Read More
Three West African coup-hit states ponder ditching French colonial currency
Junta leaders in the coup-hit West African countries have recently made headlines when they pushed for the ditching of the West African franc (CFA), a ... Read More
Africa fueled with optimism with prospect of US interest rate cut in 2024
Emerging and frontier markets in Africa now have a reason for cautious optimism in 2024 following a recent announcement by The Federal Reserve (Fed) signaling ... Read More
African govts seek robust crypto regulation, market stability
Home to the second most crypto-currency holders in the world, Africa is in urgent need for greater consumer protection and regulation of the crypto industry, ... Read More
Protesters in Ghana demand president Akufo-Addo ‘must go’ as inflation worsens
Hundreds of Ghanaians took to the streets of the capital Accra on Saturday (5 November) demanding the resignation of President Nana Akufo-Addo whom they blame ... Read More
Nigeria’s naira plunges to record lows as citizens react to govt’s redesign plan
Nigeria's currency, the naira, has dropped to a record low against the US dollar as Nigerians scramble to stockpile the greenback ahead of a redesign ... Read More
Egypt, IMF ink $3bn new loan program deal
The International Monetary Fund (IMF) said on Thursday it had agreed a $3 billion Extended Fund Facility (EFF) over 46 months with Egypt, Reuters reports. ... Read More
World’s worst-performing currencies: Ghana’s cedi, as Nigeria’s naira, SA’s rand also struggle
Ghana’s cedi slumped over the last three days to become the world’s worst-performing currency this year as investors continued to squeeze foreign capital into the ... Read More
The African currency rollercoaster ride: struggling against super-strong US dollar
As the global economy sinks into another period of crisis, African currencies are depreciating against the US dollar and rising import costs are adding to ... Read More
Egypt’s pound depreciates again
The Egyptian pound weakened to a new record low against the US dollar on Thursday, extending its losses to 6.4 percent since the central bank ... Read More