Browsing: US dollar

A dollar is trading at 16.67 Kwacha and 13.35 Seychelles rupees as at December 31. Both countries were among the three worst performers in 2020.
This has fueled speculation from corporate participants and currency retail traders on when exactly to exit foreign currency risks for dollar hoarders or whether to buy the Kwacha as a safer haven store for value.
President Hichilema’s government is in the process of reworking as much as $17 billion in external public debt. He has submitted an endorsement request to the IMF as his administration advances talks with creditors from US$3 billion in Eurobond holders to US$5.8 billion owed to the Republic of China.…

This means that these individuals would not be able to access financial services from the banks for a period of up to two years. The matter is still unfolding, and further developments will be advised in due course.
Zimbabwe, after attaining the highest inflation record in world history and especially for a country that was not involved in an armed conflict, took the decision to demonetize its defunct currency in favour of a basket of foreign currencies led by the United States dollar.
After a period of relative economic stability, the country took the decision to reintroduce the Zimbabwe dollar initially as a surrogate currency known as the Zimbabwe bond note. This was a response by the monetary authorities to a shortage of foreign currency and bank notes.…

• Zimbabwe did not have a parallel market for foreign exchange in the years running from 2009 to around 2016.
• Zimbabwe is heavily reliant on imported products and expends more foreign currency than it can afford.
• Demand pressure has contributed to the fall of the Zimbabwe dollar resulting in general inflation.

This question has robbed monetary authorities of sleep as the Zimbabwe dollar falls precipitously on the parallel market.

Zimbabwe did not have a parallel market for foreign exchange in the years running from 2009 to around 2016.

It all began with the introduction of a surrogate currency that was fallaciously pegged at par with the United States dollar. The authorities initially posited that the surrogate currency was supported by a loan facility extended by the Africa Export-Import Bank (Afrexim Bank).

This loan it was said underscored the parity of the currency. It did not …

The Tanzanian shilling is expected to hold steady against the United States dollar in the second quarter of 2019 due to increased inflows of the greenback from tourism,  agriculture exports and demand from corporate to meet the 2018 dividend obligations.

The National Microfinance Bank (NMB) Market Digest said in its report that the second quarter will witness increase of inflows from tourism and agriculture thus bolstering the local unit.

The report stated that with traditional inflows mostly from tourism and agriculture expected to increase by June, the local unit is to hold steady with minimal volatility as the central bank continues its liquidity management efforts to preserve calm market conditions.

Further, according to the report, the local currency ended the quarter strongly after trading weaker during the first two months of the year to appreciate by 2.1 per cent. The quarter opened at Tshs.2,300 per dollar, traded to a high …