Singapore, Singapore | AFP | Bitcoin broke through the $10,000 barrier for the first time on Wednesday as it continues a stratospheric rise that has delighted investors but sparked fears of a bubble. The virtual currency hit a high of $10,379 in Asia, according to Bloomberg News, more than 10 times …
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Caracas, Venezuela | AFP | Venezuelan President Nicolas Maduro announced Friday his government will sell oil and other commodities in currencies other than the dollar, in a bid to weather US-imposed sanctions on the embattled country. “I have decided to start selling oil, gas, gold and all other products that Venezuela …
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Three months after Bank of Uganda (BOU) transferred the assets of Crane Bank to DFCU Bank, one of its key units Crane Forex Bureau has been struck of the list of registered currency operators. Others off the list, which means their Licenses have expired, are Karibu and Redfox. BOU transferred the …
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Frankfurt am Main, Germany | AFP | The euro, used by nearly 340 million people each day, celebrates its 15th birthday on Sunday. Like a teenager in the throes of adolescence, the euro has lurched from crisis to crisis in recent years, but still manages to enjoy firm support across …
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Washington, United States | AFP | Handing out multibillion-dollar fines right and left to domestic and foreign financial giants, the United States has taken on the role of the unforgiving global cop of the business world. In stark contrast to the relative inertia of white-collar law enforcement in Europe, Washington …
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Lagos, Nigeria | AFP | Nigeria’s currency scarcity remains a nightmare that won’t go away, with even Africa’s richest man Aliko Dangote feeling the pain. The West African country’s economy has been hammered by the global crash in oil prices — worth 70 per cent of its revenue and the …
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Beijing, China | AFP | China’s mountain of foreign exchange reserves dropped around $19 billion in September to a five-year low, government data showed, with the central bank spending heavily to defend its currency against capital outflows. The world’s largest currency hoard fell to under $3.17 trillion, the People’s Bank …
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Abuja, Nigeria | AFP | Nigeria signalled Wednesday it will ease currency controls, opening the door to a plunge in the value of the naira, after the restrictions were blamed for stifling the economy. Central Bank of Nigeria (CBN) governor Godwin Emefiele said in a televised speech from Abuja that …
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The Independent Uganda: You get the Truth we Pay the Price