currency

Botswana's Currency Strategy: Navigating Economic Challenges with Strategic Adjustments In a significant policy shift, Botswana has decided to allow its local currency, the pula, to depreciate by 2.76% over the next year. This move is undeniably more aggressive than earlier expectations, aiming to address the mounting economic pressures the country faces. As countries often grapple with currency fluctuations, this measure reflects a blend of strategy and necessity in the world of economics. The decision emerges during a…

African Currency and Trade Dynamics: A Comprehensive Overview In May 2025, nearly half of the currencies across the African continent experienced depreciation. This trend highlights persistent foreign exchange pressures, underscored by a range of ongoing reforms and stable economic growth. Insights gleaned from the African Export-Import Bank’s Monthly Developments in the African Macroeconomic Environment report, published in June 2025, illuminate this complex landscape. The bank's…

Rwanda's Currency Regulations: A Shift Towards Economic Stability In a significant move aimed at strengthening its economy, the National Bank of Rwanda (NBR) has announced that it will enforce stringent penalties on businesses and individuals who engage in transactions or price quoting in U.S. dollars or other foreign currencies without obtaining proper authorization. This initiative is more than just a regulatory measure; it's a vital step towards establishing and reinforcing the use of the Rwandan Franc in local trade.…

The Zimbabwe Gold: A New Chapter in Currency History The Reserve Bank of Zimbabwe (RBZ) boasts that its latest currency, the Zimbabwe Gold—a gold-backed currency colloquially known as the “ZiG”—is underpinned by more than 100% in reserves. These reserves include 2.5 tons of gold and approximately $100 million in foreign assets. At first glance, such figures might inspire confidence in a nation long plagued by economic upheaval and inflation. But how genuine is this assurance? Enter the ZiG, Zimbabwe’s sixth…

In the fluctuating realm of currency exchange, the recent developments concerning the Ghanaian cedi have certainly caught the attention of many. The Bank of Ghana's official exchange rates have taken a troubling turn, effectively wiping out the modest gains that were achieved earlier this month. As the cedi continues its struggle against the dollar, one has to wonder: what are the underlying factors feeding this disheartening trend? This reversal comes after several weeks of cautious optimism buoyed by central bank…

Established in 2019, Leatherback embarked on a mission to unify the world’s 180 currencies. Its approach emphasizes customer-centric product offerings, designed to provide users with seamless transaction experiences across multiple currencies and international borders. With the company's continued expansion into new markets and the introduction of innovative features aimed at enhancing user experience, recent leadership appointments reflect an intent to harness the power of expertise, robust networks, and core…

The Journey of Zimbabwe Gold (ZiG): A Hopeful Yet Shaky Future In a recent statement reflecting its ongoing commitment to the nation, the International Monetary Fund (IMF) has expressed a distinct interest in Zimbabwe's new currency, ZiG. The organization has articulated its desire to see this currency evolve into a “fully recognized national currency.” This development is part of broader considerations regarding placing Zimbabwe under a staff-monitored program. But what does this mean for the everyday…

Inflation in Ghana: A Promising Turnaround In a remarkable turn of events, Ghana's inflation rate has dipped to its lowest level in over three years. This shift is largely attributed to a stronger national currency and reduced import costs, signaling a potential recovery for the West African nation. As reported by government statistician Alhassan Iddrisu during a recent news conference, consumer inflation eased to 18.4% year-on-year in May, down from 21.2% the previous month. This decline is a hopeful indicator…

The Economic Impacts of Weak Currencies in Africa A weak currency can be likened to a house of cards—it may appear stable until the slightest disturbance brings it crashing down. For nations, the ramifications stretch beyond fluctuating exchange rates. A weak currency can undermine economic stability, erode investor confidence, and adversely affect the well-being of a nation's citizens. Have you ever wondered how essential currency stability is for a thriving economy? Take Zimbabwe, for instance. In April…

In recent years, African economies have encountered an array of global challenges that can only be described as a perfect storm. The lingering effects of the COVID-19 pandemic still ripple through these nations, leaving them grappling with slowed economic growth, mounting debt, and strained fiscal positions. It's akin to a ship trying to navigate through heavy fog, where visibility is limited, yet the journey must continue. Have we collectively learned enough from this turmoil to chart a safer course? Compounding…