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The Ugandan shilling weakened on Tuesday, hurt by a few pockets of demand in the importing sector and excess liquidity in the money market. Commercial banks quoted the shilling at 3,630/3,640, weaker than Monday’s close of 3,620/3,630.
Zimbabwe launched a “bond notes” currency which held its value against the U.S. dollar on Monday, despite warnings that it could cause hyperinflation and suggestions it could bring down President Robert Mugabe. The bright green bond notes, introduced by the southern African nation’s central bank to ease a shortage of dollars, were accepted by most […]
Having failed to resist above 1.25 handle yet again in the overnight trades, the GBP/USD is seen extending the retreat a fresh buying interest seen behind the US dollar against its major peers.The bid tone behind the US dollar keeps growing bigger, knocking-off GBP/USD further into negative territory in a bid to test support located […]