Currencies
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Zimbabwe Devalues Currency, Raises Interest Rates to Curb Inflation
Zimbabwe’s Reserve Bank has devalued its gold-backed currency, the ZiG, by 43% and raised the benchmark interest rate to 35%…
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Kenya’s Borrowing Costs Remain High Amid Fiscal Uncertainty
Kenya’s borrowing costs remain near decade-high levels as uncertainty over the country’s funding options and fiscal strategy continues. Following deadly…
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CBK Makes Changes to Currency Banknotes
The Central Bank of Kenya (CBK) has announced changes to the Kenyan currency banknotes, in line with its mandate to…
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Kenya’s Forex Reserves Drops to Ksh.63 Billion on Debt Repayment
Kenya’s foreign exchange reserves dropped by $487 million (Ksh.63.9 billion) in the week ending July 19, 2024. This is after…
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Uganda to Boost Foreign Exchange Reserves with Domestic Gold Purchases
Uganda is set to begin purchasing domestic gold to bolster its foreign exchange reserves and minimize risks associated with reserve…
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Kenya Shilling Weakens Against Dollar as President Ruto Rescinds Finance Bill, 2024
The Kenya Shilling faced a slight devaluation against the US Dollar following President William Ruto’s decision to retract the controversial…
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Shilling Drops Below 130 Mark Against Dollar Since April
The Kenya Shilling retailed at 129.6 units against the greenback Tuesday – according to official figures from the Central Bank…
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Why Kenya Shilling Can’t Hold Grip Against Dollar for Long
Kenya has witnessed a significant shift in its currency dynamics, with the Kenyan Shilling depreciating against the US Dollar –…
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Shilling Gains 1% Against Dollar to Open Week at 131 Units
The Kenya Shilling kicked off the week with a 1% gain against the US Dollar, at 130.4 units. The local…
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Shilling Gain Helps Ease Kenya’s Inflation to 2-year Low
Kenya’s inflation eased to a two-year low according to the latest data by the Kenya National Bureau of Statistics (KNBS).…
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