Category: shilling
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Elon Musk Is Back To Shilling Dogecoin, Is A 36,000% Rally Possible Again?
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richest man in the world, Elon Muskreturned to support the first meme, Dogecoin (DOGE), albeit indirectly. This increased the potential for Dogecoin to rise by 36,000%, just as it did in Bull Racing 2021. Elon Musk is back in Dogecoin Elon Musk has returned to the shilling Dogecoin, but this…
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Centum cuts exchange rate risk with switch to shilling loans
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Investment firm Centum has restructured a N3.1 billion dual currency loan from Standard Bank of South Africa into a shell facility, allowing the company to avoid exchange rate risk on the facility in the event of future weakness of the local currency against the dollar. The loan, which was held…
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Pyrethrum extract prices rebound to a record high on weak shilling
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The price of pyrethrum extract, the main product obtained from processing pyrethrum flowers, jumped 38.8 percent last year to an all-time high, due to the weak shilling. Data from the Agriculture and Food Authority shows that the average price per kilogram of the extract was Sh37,500 in 2023, up from…
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Kenyan banks see forex losses from subsidiaries as shilling strengthens
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Kenyan banks recorded currency losses of about Ksh50 billion in the first half of the year when translating financial statements of regional subsidiaries into Kenyan shillings due to the appreciation of the shilling during the period. The shilling has appreciated by between 19 and 31 percent against the currencies of…
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Nairobi in world’s cheapest cities list on weak shilling
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Nairobi has now become among the cheapest cities in the world this year for expatriates whose purchasing power has increased amid a weaker shilling, according to the latest ranking by consultancy Mercer. The Kenyan capital is ranked 201st in the 2024 Cost of Living City Ranking, down 28 places from…
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Nairobi in world’s cheapest cities list on weak shilling
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Nairobi has now become among the cheapest cities in the world this year for expatriates whose purchasing power has increased amid a weaker shilling, according to the latest ranking by consultancy Mercer. The Kenyan capital is ranked 201st in the 2024 Cost of Living City Ranking, down 28 places from…
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How Kamau Thugge’s shilling exploits have earned him African Central Banker fete
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Dr Kamau Thug’s exploits in stabilizing the fluctuating Kenyan shilling led to him being named Central Banker of the Year by African Banker magazine just one year into his tenure at the Central Bank of Kenya (CBK). This recognition comes in the wake of interventions supervised by the Governor of…