The Uganda shilling appreciated during the first full trading week of 2026. According to Absa Bank Uganda weekly market updates report, having opened at 3615 / 3625, the shilling experienced strong appreciation pressures largely attributed to heavy portfolio inflows that outclassed existing demand from corporate entities in the manufacturing, telecom, and energy sectors. Richard Nsubuga,…
The Uganda shilling opened the first trading day of 2026 weaker, pressured by strong demand for hard currency from corporates in the energy and manufacturing sectors, according to market analysts. Richard Nsubuga, Absa Bank Uganda’s Ag. Head of Trading said that after closing 2025 on a firm footing at 3615/3625, early Friday demand pushed the…
The Uganda shilling closed Tuesday 30th December 2025 at the 3615/3625 levels, 5 shillings lower compared to the opening of 3610/3620 in a quiet trade on Monday, according to the market update from Absa Bank Uganda. According to Richard Nsubuga, the Ag. Head of Trading, the session saw balanced but thin trading activity with most…
By Moses Rutahigwa, Retail and Business Banking Director, Absa Bank Uganda. The festive season is one of the most vibrant periods in Uganda’s economic calendar. Families gather, communities celebrate, travel increases, and small businesses experience a surge in demand. From buying gifts and food to paying school fees in advance or funding travel plans, spending…
Absa Bank Uganda and Uganda Electricity Distribution Company Limited (UEDCL) have today announced the advancement of a five-year USD 50million, landmark financing facility to the electricity distributor to strengthen national power distribution. This landmark transaction marks a defining moment for Uganda’s energy sector, and the facility is UEDCL’s inaugural debt financing. The facility will enable…
The Uganda shilling recovered some ground against the dollar, trading at the 3620/3630 on Friday morning – from the 3635/3645, the level at which the spot market opened on Monday, according to Absa Bank Uganda weekly shilling update. Dollar selling interest dominated the trading sentiment early in the week, ahead of the Treasury Bond auction…
The Uganda shilling lost ground against the dollar for another straight week, trading at the 3,635/3,645 on Friday morning in comparison to the 3,555/3,565 opening level on Monday, according to Absa Bank Uganda weekly shilling update. The currency pair has continued to trade in a wide range with an overall bias towards a weaker local…
The Uganda shilling traded at 3490/3500 by mid-morning today, Losing Approximately 1.80% Against The Dollar This Week. The local unit’s consolidation seen last week in the strong region of 3425/3435 gave way to a sharp decline, after the offshore market players bought dollars from the spot market. This is according to Absa Bank Uganda weekly…
The Uganda shilling surged against the dollar to close the week at the 3455/3465 levels from the opening of 3487/3497, a consistent and spectacular performance throughout the week that saw significant portfolio inflows that were sold directly into the spot market, marking the shilling’s strongest level in 9 years, last seen in October 2016. According…
Absa Bank Uganda is pleased to announce the reintroduction of its custody services, marking a significant milestone in the bank’s commitment to supporting the growth and development of Uganda’s capital markets. This strategic move aims to provide institutional investors with secure, efficient, and compliant solutions to safeguard their assets and facilitate seamless investment operations. Speaking…
