SA's net gold and foreign exchange reserves jumped 2,3% to 38,8bn last month, more than expected, as gold prices and the value of the Reserve Bank's foreign currency holdings climbed.
Dollarisation has brought many dynamics to the property market with analysts saying it will not be as easy as it has been for many players who built huge property portfolios ton the back of rising inflation.
THE relaxation of foreign exchange controls announced by Finance Minister Pravin Gordhan and the stronger rand offer an opportunity for investors to diversify more of their funds offshore, say analysts.
THE Treasury unexpectedly announced sweeping new measures to relax exchange controls yesterday in a bid to weaken the rand to a more "competitive" level and cut red tape for investors.
Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has said the apex bank aims to keep the naira exchange rate at "around N150" per dollar and avoid fluctuations of more than 3 per cent.
'Nairisation' of crude (crude oil, condensate and gas) describes how our oil receipts can be adapted as effective and cost efficient tool in the strategy to make Nigeria one of the world's top 20 economies by the year 2020.
Importers are making merry over the current strength of the Shilling, saying it will boost their purchasing power. But the situation is leaving exporters in a tight corner as they anticipate lower demand for their exports.
The Uganda Shilling has this week continued its latest remarkable rise against the US Dollar.
VASTI Cedeno, a graduate student from the US, travelled to Uganda this year to visit friends and do research for her master's degree. To avoid high bank charges, she brought the money she planned to use in cash. However, to her misfortune, she carried her money in $20 and $50 bills.
Corruption is a worldwide phenomenon that cuts across every race and tribe; it is not an indigenous property of Nigeria.
In last week's article, "Dollar Reserves: Who Owns What?" we endeavoured to lift the shroud over the amorphous concept of Nigeria's foreign reserves. Incidentally, the Senate has lately in consonance with our position, also frowned at the illegality of the component of the reserves defined as excess crude account! (See Daily Independent headline of 23/10/2009, "Sharing of $2bn Excess Crude Fund ...
One of the most unpredictable factors in international transactions in the past few years has been the strength of the US dollar.
The Managing Director/ Chief Executive Officer of UBA Ghana, Mr. Gabriel Edgal has decried the use of foreign currency in facilitating trade across four sister countries in the West African sub-region.
