by admin | Mar 24, 2025 | currencies, economics, financial markets, international economics, money
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A CBK report indicated that Kenya’s foreign exchange reserves increased to $10,001 million (KSh 1.3 trillion) in March 2025.
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CBK said this represents 5.1 months of import cover, supporting importers’ demand for US dollars
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The Kenyan shilling retained its stability, exchanging at a rate of KSh 129.38 per US dollar.
The LIFEHACK.co.ke correspondent Wycliffe Musalia boasts more than six years of expertise in areas such as finance, commerce, tech, and environmental issues. This background provides him with significant understanding of both Kenya’s and international economic patterns.
Kenya’s foreign exchange reserves have reached their highest level in three months starting from January 2025.
According to data from the Central Bank of Kenya (CBK), foreign reserves reached $10,001 million (KSh 1.3 trillion, using the present exchange rate).
How rising foreign reserves impact Kenya
This figure rose to $8,877 million (KSh 1.1 trillion), up from what was reported in January 2025.
The CBK observed that the increase in foreign currency reserves will be sufficient for approximately 5.1 months of import needs.
As of March 20, the available foreign exchange reserves were sufficient at USD 10,001 million (covering imports for 5.1 months). The Central Bank Report stated this fulfills the CBK’s legal obligation to strive for maintaining at least four months’ worth of import coverage.
In February, the foreign exchange reserves amounted to $9,142 million (KSh 1.2 trillion), which was sufficient to cover approximately four months of imports.
What is the worth of the shilling?
The report indicated that the value of the shilling remained steady over the three-month period ending in March 2025.
As of March 20, 2025, Kenya’s currency, the shilling, was trading at KSh 129.38 for one US dollar, down from KSh 129.43 recorded at the beginning of the month.
In January 2025, the shilling traded at KSh 129.31 for each US dollar, notwithstanding fluctuations in the foreign exchange market.
The U.S. dollar maintained stability throughout the month, preceding the inauguration of US President Donald Trump, whereas the shilling stayed bullish.
How CBK is maintaining shilling stability
In March 2025, the Kenyan shilling reached its highest point in six months relative to the US dollar when the Central Bank of Kenya implemented strategies aimed at stabilising it.
Following reports of heightened demand in February 2025, the regulator offloaded dollars to traders.
The reserves held by the CBK saw a decline from KSh 1.19 trillion ($9.256 billion) to KSh 1.16 trillion ($9.057 billion) over the previous week, partly due to dollars flowing out of the CBK’s treasury.
The sale was prompted by a rise in dollar inflows, notably from the recently issued infrastructure bond.
What other measures does CBK use to strengthen shilling
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In February 2025, the regulatory body called for tenders for Treasury bonds as part of an effort to secure KSh 25 billion through local borrowing.
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In March, CBK urged investors to lend the government KSh 70 billion through a newly launched bond offering aimed at providing budgetary assistance. The bank stated that the subscription window would be open from March 18, 2025, until March 26, 2025, with an auction planned for March 27, 2025.
by admin | Mar 24, 2025 | business, currencies, economics, financial markets, money
On Monday morning, the U.S. dollar gained strength compared to the Vietnamese dong, simultaneously hovering slightly beneath a three-week peak relative to key currencies.
At Vietcombank, the selling rate for the US dollar was set at VND25,825, marking a 0.25% increase from the previous weekend. In contrast, on the unofficial market, the dong depreciated by 0.04%, trading at around VND25,900 per dollar.
The State Bank of Vietnam increased its reference rate by 0.07%, setting it at VND24,831.
Worldwide, the dollar edged slightly beneath a three-week peak against key rivals on Monday as investors waited nervously for more details on U.S. President Donald Trump’s upcoming tariff announcements.
Reuters
reported.
The U.S. dollar index, which assesses the currency’s performance relative to a group of six major currencies, remained steady at 104.03 following an earlier peak of 104.22 on Friday—the highest level since early March. The previous week saw the index climb by 0.4%, marking its first positive weekly showing for the month.
The dollar has been under pressure for most of this year as the market’s assumptions that Trump would quickly usher in pro-growth policies transformed into worries that the president’s aggressive and erratic trade policies could trigger a recession.
The euro gained modestly after three consecutive days of losses, whereas the yen weakened further against the dollar, influenced by an increase in U.S. Treasury yields.
The U.S. currency increased by 0.3% to reach ¥149.77. Meanwhile, the euro strengthened by 0.24%, trading at $1.0836 after reaching a low of about $1.0795 on Friday. Additionally, sterling climbed by 0.15% to stand at $1.2934.
The upcoming round of tariffs is set for April 2, when the White House plans to introduce retaliatory charges on numerous nations.
by admin | Mar 24, 2025 | bitcoin, cryptocurrency, investing company news, money, north korea
According to recent cryptocurrency data, North Korea’s alleged Bitcoin holdings—which are said to have been acquired via cyberattacks carried out by government-backed hacking units—are now greater than those owned by Tesla.
On March 23rd (local time), CoinDesk reported, referencing blockchain analytics company Arkham Intelligence, that the Lazarus Group—a cybercrime unit allegedly linked to North Korea—currently holds around 13,441 bitcoins. These assets are estimated to be worth roughly $1.14 billion, equivalent to about 1.67 trillion Korean won.
In contrast, under CEO Elon Musk, Tesla owns 11,509 bitcoins, which makes North Korea’s holdings about 16% bigger. Tesla ranks as the fourth-largest holder of bitcoins among public companies globally.
North Korea’s increase in Bitcoin holdings seems connected to the recent breach at Bybit, one of the biggest global crypto trading platforms. This incident occurred on February 21st, leading to the loss of around $1.46 billion (approximately 2.1 trillion won) worth of digital assets. It is believed that the cyberattack may have been carried out by the Lazarus Group.
Although the majority of the pilfered funds were denominated in Ethereum, it is suspected that North Korea quickly transformed a substantial part of these assets into Bitcoin following the security breach.
The report was issued shortly after U.S. President Donald Trump restated his commitment earlier in the week to position the United States as a dominant force globally and at the forefront of cryptocurrencies. As reported by CoinDesk, there has been an increasing focus on understanding potential reactions from North Korea’s cyber activities amidst these evolving geostrategic and digital monetary dynamics.
The U.S. government presently possesses 198,109 bitcoins, which are valued at over $16 billion (approximately 23 trillion won), having been confiscated during multiple money-laundering probes. It is said that Trump is considering developing a cryptocurrency reserve plan focused on these holdings.
by admin | Mar 24, 2025 | business, commerce, financial services, loans, money
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Safaricom PLC declared that M-Pesa services would be temporarily halted on Monday, March 24, due to planned maintenance.
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The announcement ignited discussions in Kenya, particularly amongst M-Pesa users who expressed worries about the Fuliza borrowing caps.
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A client stated that they have an Okoa Jahazi airtime credit worth up to KSh 1,000; however, their Fuliza limit is only KSh 100.
The LIFEHACK.co.ke correspondent Wycliffe Musalia boasts more than six years of expertise in areas such as finance, commerce, tech, and environmental issues. This wealth of knowledge provides him with significant perspectives on both Kenya’s and international economic patterns.
Kenyan citizens keep expressing their worries about the Safaricom Fuliza borrowing cap and who can qualify for it.
The top telecommunications company and mobile financial services leader in the nation announced that their overdraft loan feature is accessible to all M-Pesa clients and is provided by the respective banking institution.
What Safaricom stated regarding increased Okoa Jahazi charges and reduced Fuliza limits
An M-Pesa user vented on social media about the company mistakenly allocating her KSh 1,000 for Okoa Jahazi (airtime credit), even though she was only qualified for a Fuliza limit of KSh 100.
“Hear me clearly, I gave you an Okoa Jahazi worth KSh 1,000 but your Fuliza still stands at KSh 100,” the customer exclaimed.
As a result, Safaricom advised the customer to meet certain criteria so she could obtain an increase in her Fuliza limit, which is determined by the bank.
The telecommunications company stated that customers should regularly utilize Safarcom services such as M-Pesa, data packages, Okoa Jahazi, and airtime top-ups.
A different customer raised a similar issue, mentioning that their Okoa limit is set at KSh 2,500, but they have no Fuliza loan limit whatsoever.
Hellen Mukuna sighed, ‘My Okoa limit is KSh 2,500, yet I have no Fuliza limit at all,’ she said.
Safaricom replied:
Hello Helen, apologies for the inconvenience. Each one has distinct terms and conditions; these must be met for qualification, which explains the variation.
What initiated the discussion around the Fuliza loan limits?
Following the announcement, the telecom firm declared that M-Pesa services would be temporarily suspended for planned maintenance starting on Monday, March 24.
Safaricom stated that all M-PESA services would experience an outage for approximately half an hour; however, other services such as voice calls, text messages, and data packages will remain operational.
Kenyan citizens turned to social media platforms to voice their discontent with several services provided by the telecom company, such as Fuliza, M-Shari, and the internet access.
Why you might want to avoid opting out of Fuliza
The telecommunications company claimed that continuing to use its services increases customers’ likelihood of qualifying for and raising their credit limits.
If a customer is already enrolled in Fuliza, choosing to opt out might affect their limits.
In January 2025, a Kenyan man expressed disappointment when he tried to cancel his overdraft facility but wanted to increase his credit limit instead.
The M-Pesa client expressed interest in raising his Fuliza limit to KSh 30,000 from KSh 9,500.
Nevertheless, Ufa’s disappointments intensified when he decided to rejoin the service, only to find himself assigned a zero loan limit, down from KSh 9,500.
by admin | Mar 24, 2025 | commerce, financial services, money, payment processing, pensions
The National Pension Commission has endorsed nine Payment Solution Service Providers to take part in the newly launched online Pension Contribution Remittance System.
On its updated website, PenCom announced that the online Pension Contribution Remittance System has replaced the previous manual procedure for employers to submit their staff’s pension payments.
The disclosed service providers consist of Paypen offered by Netline Limited, Pencentral provided by Chamsaccess Limited, Pensphere (previously known as Paythru) from Pethahiah Rehoboth Int’l Limited, Penremit supported by Cyberspace Limited, Pensol developed by Uniswitch Technology Limited, Penco managed by Gemspay Solutions Limited, Awabah delivered by Awabah Remit Services Limited, Epcoss facilitated by Nigeria Inter-bank Settlement Systems Plc, and Interswitch represented by Interswitch Group.
With this new setup, PenCom stated that ” Employers are now able to submit their employees’ schedules and transfer pension contribution payments online without leaving home or office.”
The PCRS is available without charge and does not incur any costs for the employer.
The PCRS guarantees that the pension payment timelines submitted by companies are correct, and it verifies employees’ personal ID numbers along with their pension fund managers against PenCom records prior to processing payments.
Under this new system, employers have the option to choose among the authorized service providers for managing their pension contribution payments.
Remember that the Pension Fund Operators Association of Nigeria declared in December that they will introduce four pension service solution providers beginning April 1, 2025, with the aim of streamlining pension payments within the industry.
Following the PenCom announcement, the project has been accelerated by several weeks (since employers can now utilize the service providers right away) and the choice of service providers has become more favorable.
At the 2024 PenCom Media Conference in Lagos, the CEO of PenOp, Oguche Agudah, stated during his speech that adopting technology aimed to tackle several issues within the present remittance framework. These problems encompassed unpaid retirement contributions and instances where transfers were made without an established plan.
Back then, he had enlisted four service providers: PayPen from Netline Ltd., Paythru offered by Pethahiah at Rehoboth International Ltd., Pension Central provided by Chams, and Cyberpay from Cyberspace Ltd.
Outlining the procedure, Agudah stated, “The mechanism will function such that once the employer contributes to the pension, the funds will directly reach the RSA holder. Additionally, a standardized remittance form will be implemented. Furthermore, validation processes will be put in place to prevent occurrences of ‘We received payment, yet we’re unsure about its origin.'”
Provided by Syndigate Media Inc. (
Syndigate.info
).
by admin | Mar 23, 2025 | asia, banking, finance news, financial services, money
Lifehack My ID
Agar dapat mengakses uang dalam jumlah kecil, Bank Mandiri serta BNI menawarkan layanan ATM dengan denominasiRp 10.000 dan Rp 20.000.
ATM ini terdapat di berbagai kota di Indonesia.
Jasa ini mempermudah para pemegang rekening untuk mencairkan dana tanpa perlu mengantri lama di kantor bank.
Berikut daftar ATM Mandiri dengan Pecahan Rp 10.000 dan Rp 20.000 di Jakarta dan Bekasi
Menurut data dari akun resmi Mandiri Care (@mandiricare), berikut ini adalah daftar mesin ATM Milik Bank Mandiri yang menyedikan uang dalam denominasi Rp 10.000 serta Rp 20.000 untuk area Jakarta dan Bekasi:
1. Pusat Perbelanjaan Mandiri Gatot Subroto
JKT GD PLZMDRLBYSELATN 03 CRM (S1RH0GJY), Jalan Gatot Subroto Kav.36-38, Senayan
JKT SB PLZMDR CRM04 (S1RK0GJZ), Jalan Gatot Subroto Kav. 36-38, Senayan
JKT SB PLZMANDIRI CRM (S1RK0GT1), Jalan Gatot Subroto Kavling 36-38, Senayan, Kecamatan Kebayoran Baru, Jakarta Selatan
JKT GD PLZMDRLBYSELATN 02 (S1AW0G0A) – denominasi Rp20.000,-
2. Pondok Kelapa
JKT SB PONDOKKELAPA 02 CRM (S1RK16ZP), Jalan Pd. Klpp. Indah Nomor 22-23, Duren Sawit
JKT SB PONDOKKELAPA 01 (S1RKK29C), Jalan Pekapuran Indah Nomor 22-23, Duren Sawit
3. Blok M Plaza
JKT MP BLOK M CRM (S1RK1BF8), Jalan Bulungan Nomor 76, Kramat Pela, Kebayoran Baru
4. Thamrin City
JKT CB THAMCIT LT DSR-1 (S1RK1BK2), Jalan Kebon Kacang Raya, Kelurahan Kb. Melati, Lantai Thamrin City Mall
5. Bendungan Hilir
Bequem Babynahrung kaufen
get-it-cheaper.com
Bequem Babynahrung kaufen
Ad
Jalan Bendungan Hilir Nomor 82, Tanah Abang, Jakarta Selatan (JKT SB BENDUNGAN HILIR 02 CRM) (S1RK1BKI)
6. Jalan Sunda
Jalan Sunda Nomor 1 (S1RK1JC4), Jl. Sunda No.1, Gondangdia, Menteng
7. SPBU Kahfi Jagakarsa
JKT PB KAFHI CRM (S1RK1LQ7), Jalan Moch Kahfi Nomor 1, Ciganjur, Jagakarsa
8. Sentra Mandiri Menteng
JKT GD SENTRAMANDIRI 07 (S1RO1BBU), Jalan RP. Soeroso Nomor 2, Cikini, Menteng
JKT GD SENTRAMANDIRI 01 (S1AW12MH) – DenominasiRp 20.000
9. Gedung Wisma Mandiri di Jakarta Pusat
JKT GD WISMAMANDIRI 01 (S1ANAJ3F), Jalan Kebon Sirih Nomor 83, Menteng
10. Jatiwaringin
Area Jatiwaringin Bekasi (S1RO1FQG), Jalan Raya Galaxy Blok H/19 – Denom Rp 20.000
11. Juanda Bekasi
Lokasi Area Bekasi Juanda (S1RO1Y61), berada di jalanan Jalan Insinyur H. Juanda Nomor 155, Kecamatan Bekasi Timur dengan biaya penyewaan sebesar Rp 20.000.
Daftar Mesin ATM Bank Negara Indonesia yang Mendukung Uang Kertas Sebesar Rp 20.000
Berdasarkan informasi dari akun resmi @BNICustomerCare, berikut daftar ATM BNI yang menyediakan pecahan Rp 20.000:
1. Bogor
Galeri IPB Dramaga 4 – Jalan Raya Bogor-Jasinga Dramaga, Kampus IPB Dramaga
Galeri IPB Dramaga 6 – Jalan Raya Bogor-Jasinga Dramaga, Kampus IPB Dramaga
Galery IPB D III – Jalan Kumbang Nomor 14, Kota Bogor
2. Tangerang
Kantor Cabang Pembantu BNI UIN 1 – Jalan Raya Ciputat – Tangerang Selatan
3. Depok
Kantor Cabang Bank Negara Indonesia Universitas Indonesia – Area Kampus UI Depok (Bangunan Perpustakaan Utama UI Di Depok)
FIK UI – Universitas Indonesia di Kampus Depok, Bangunan FIK UI, Jalan Profesor Dr. Bahder Djohar
Balairung UI Depok – Area Utama di Kampus Universitas Indonesia Depok (Bangunan Balairung UI Depok)
4. Jakarta Utara
Kantor Cabang Pembantu (KCP) KBN Cakung Nomor 2 – Terletak di kompleks KBN Cakung, mengikuti jalur Jawa Blok A.14-1 hingga A.14-2
5. Jakarta Pusat
Lobi Selatan Bangunan Grha BNI – Jalan Jenderal Sudirman Kavlingan Nomor 1
KCU Harmoni 2 – Kompleks Duta Merlin Blok A Nomor 1-2-3, Jalanan Gajah Mada No. 3-5
Direktorat Anggaran Gedung L Kementerian Keuangan – Jalan Lapangan Banteng Timur
KC Pecenongan – Jalan Pecenongan Raya Nomor 52
Kantor Cabang Pembantu Gunung Sahari 2 – Jalan Raya Gunung Sahari Nomor 13
KCP Krekot – Jalan H. Samanhudi Nomor 15-A
6. Jakarta Barat
KCP City Resort – Ruko City Resort Residence Blok C Nomor 49, Cengkareng
Kantor Cabang Pembantu Mercu Buana – Jalan Meruya Selatan, Kembangan
Kantor Cabang Pembantu Trisakti Kampus B – Jalan Kyai Tapa Nomor 260
KC Roa Malaka 2 – Jalan Roa Malaka Selatan Nomor 23-25, Tambora
Kantor Cabang Pusat Trisakti Kampus A – Universitas Trisakti Kampus A, Jalan Kyai Tapa, Grogol
KCP Untar 1 – Bangunan Utama Untar, Jalan Letjen S. Parman Nomor 1
Universitas Trisakti (Suara) – Univ. Trisakti Kampus A, Jalan Kyai Tapa
7. Jakarta Selatan
BNI Universitas Pertamina – Jl. Teuku Nyak Arief RT 07/RW 08 Simprug Kebayoran
8. Bandung
Galeri ATM PTB 8 – Jalan Tamansari Nomor 80, Kelurahan Cipaganti, Kecamatan Coblong, Bandung
BNI KCP Setrasari 2 – Jl. Surya Sumateri No. 9, Bandung
BNI KCP Unpad 6 – Jalan Dipatiukur Nomor 35, Bandung
9. Yogyakarta
Cabang Yogyakarta 1 – Jalan Trikora Nomor 1, Ngupasan, Gondomanan
KLN UPN Veteran 2 – Jalan Lingkar Utara, Kelurahan Caturtunggal, Kecamatan Depok, Sleman
Proses Penarikan Uang dalam Denominasi Rp 10.000 dan Rp 20.000 melalui Mesin ATM
Agar bisa menarik uang tunai dalam denominasi Rp 10.000 ataupun Rp 20.000, silakan lakukan sesuai dengan instruksi di bawah ini:
Datangi mesin ATM terdekat yang memiliki layanan pecahan uang kecil.
Sisipkan kartu ATM Anda ke dalam mesin.
Masukkan PIN dengan aman.
Pilh jumlah tunai yang diinginkan.
Pilih nominal uang sebesar Rp 10.000 atau jika ada, gunakanRp 20.000.
Ambil kartu ATM serta sejumlah uang tunai.
Harap diperhatikan bahwa ketersediaan pecahan kecil di ATM tergantung pada persediaan yang tersedia. Untuk alasan ini, sebaiknya periksa lokasinya serta ketersediaan uang dengan menggunakan Google Maps atau hubungi customer service bank tersebut sebelum Anda datang.
Bagi detail tambahan, silakan mengunjungi website resmi Bank Mandiri serta BNI.
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