Progress...

USD to RMB swaps @CBK pap!!

Naija central bank announced that they'll be converting 10% of their $33B forex reserves into Yuans. Times r changing, the tide is shifting.

[quote=hisah]@Cde - even more Renminbi (RMB) aka yuan surprise... Indeed the USD reserve hegemony has tipped and by 2015 CNY will be convertible?!!

http://bloom.bg/qobTEW[/quote]
Aicaramba! Now i'm fully convinced CBK will annouce a stacking of Yuans.

Equity Bank chief executive James Mwangi said that there is likely to be increased investor confidence in the Nairobi Stock Exchange (NSE) as some of the factors that affect confidence become tolerable by the end of the year.

“By the end of the year we might see inflation at single digit levels,” said Mr Mwangi on Monday at the African Alliance Investment Conference which is a marketing campaign targeting foreign investors interested in the NSE.