document.write(''); document.write("AllAfrica News: Currencies
"); //0 document.write("South Africa: \'Poor Will Suffer\' From a Cheaper Rand
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ANY move to devalue the rand would drive up food inflation and hit SA\'s poor the hardest, Pick n Pay chairman Gareth Ackerman warned yesterday.

"); //1 document.write("South Africa: Hulamin Joins \'Weaker Rand\' Chorus
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HULAMIN, which generates 75% of its revenue through exports to about 70 countries, said yesterday its profit for the six months to June was significantly reduced by the strong rand.

"); //2 document.write("Uganda: Foreign Reserves Decline
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Uganda\'s foreign currency reserves fell by $178m from $2,698m in April, down to $2,520m in May, the Central Bank announced last week.

"); //3 document.write("Namibia: Interest Rate Stable But Currency Perhaps Too Strong
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Although it would be premature to describe the regional economy as stable and growing, the fact that the South African Reserve Bank left the SA repo rate at 6.5% at its MPC meeting on Thursday, indicates ...

"); //4 document.write("South Africa: Rates Kept Steady as Robust Rand Hogs Limelight
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THE Reserve Bank kept interest rates steady yesterday, in line with forecasts by analysts but disappointing markets, which had been betting on a cut.

"); //5 document.write("Gambia: Restriction On Shipping of U.S. Dollar Lifted
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The Office of the President has lifted the restriction imposed on the shipping of the US dollar out of the country effective 20th July, 2010, a dispatch issued yesterday revealed.

"); //6 document.write("South Africa: OECD Warns on Strong Rand Threat to Economy
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SA\'s authorities should intervene more actively against strength in the rand, which has hit exports, and provide policy signals on both the exchange rate and the likely direction of interest rates, a top ...

"); //7 document.write("Nigeria: Naira Sheds Five Kobo as Demand Rises by 25 Percent
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The naira depreciated by five kobo following a 25 per cent rise in foreign exchange demand in the official market .

"); //8 document.write("South Africa: Weaker Rand is Not Enough On Its Own
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THE rand is widely seen as overvalued, but deliberately weakening the currency to boost our exports will not work, unless measures are also taken to keep inflation in check.

"); //9 document.write("Zimbabwe: IMF Paper Warns Against Adopting Zim Dollar
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ZIMBABWE has not established a sufficient track record of sound policies to allow for a return of the beleaguered domestic currency, which was abandoned with dollarisation last year, an International Monetary ...

"); //10 document.write("Tanzania: Shilling Value Drops
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The Tanzania shilling has continued to depreciate against the US Dollar to reach all time low level this month while its outlook seen \"likely to remain gloomy\" despite starting to receive revenue from ...

"); //11 document.write("Namibia: Bank Launches N$10 Coins
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Prime Minister Nahas Angula launched two comme-morative coins at the 20th anniversary of the Bank of Namibia gala dinner over the weekend.

"); //12 document.write("Namibia: Coining It
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A special N$10 coin, bearing the image of Founding President Sam Nujoma, has been minted to celebrate the 20th anniversary of the Bank of Namibia (BoN).

"); //13 document.write("Uganda: Central Bank Under Fire Over Fake Notes
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Elderly women in Tororo district have blamed the Bank of Uganda (BOU) for the increased circulation of fake money in villages.

"); //14 document.write("Nigeria: Analysts Warn Against Continued Defense of the Naira
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Continuous defense of the naira by the Central Bank of Nigeria (CBN) could lead to faster depletion of the nation\'s foreign reserves, say analysts at the Financial Derivative Company Limited.

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