The Uganda shilling traded within a relatively narrow range during today’s session. Early morning dollar inflows from commodity exporters provided support to the local unit, allowing it to strengthen to levels of 3885/3895, according to Absa Bank Uganda Wednesday market report. According to the report, these gains were reversed in the afternoon as strong offshore…
By Prof. Augustus Nuwagaba (PhD), Deputy Governor Bank of Uganda When a Ugandan farmer sells a bag of coffee, the real question is not only: How much have I earned? The bigger question is: What can I purchase with the money I have earned? That is the real meaning of Terms of Trade (ToT). In…
The Uganda shilling opened the week trading firmer closing the day’s trading at 3925 / 3935 versus the day’s opening of 3930 / 3940, supported by subdued demand for hard currency amidst pockets of inflows from commodity exporters and charities. According to Absa Bank daily market report, the shilling remains susceptible to depreciation pressures stemming…
The Uganda shilling experienced another volatile and bearish week against the US dollar, extending its recent depreciation trend. According to Absa Bank’s weekly market report, having opened the week trading at 3895 / 3905, the shilling weakened to near all-time lows of 3945 / 3955 on Friday, reflecting about 8.3% year-to-date depreciation. Dollar demand was…
The Uganda shilling extended its losses today touching the session’s low of 3930 / 3940 in the mid-trading hours of the day before retracing, closing the day at UGX 3920 / 3930 levels, according to Absa Bank Tuesday market report. Demand was primarily driven by corporates in the energy and manufacturing sectors, with offshore participants…
The Uganda shilling extended its losses today touching the session’s low of 3920 / 3930 in the mid-trading hours of the day before retracing, closing the day at UGX 3890 / 3900 levels, according to Absa Bank daily market report. Demand was primarily driven by corporates in the manufacturing, energy and telecom sectors, with offshore…
The Uganda shilling came under pressure this week against the US dollar, opening stable at 3775/ 3785 as dollar demand from importers and corporates was adequately matched by inflows from exporters and remittance companies. According to Absa Bank weekly market report, the local unit came under increasing pressure from Tuesday as strong corporate and interbank…
KURA Board & Management join State Minister for Finance & Planning Amos Lugoloobi for a group picture at the launch KURA Asset Management has entered Uganda’s investment management market, targeting a growing pool of individuals, families and institutions looking beyond traditional savings towards professionally managed investments and long-term wealth creation. The entry comes amid significant…
The Uganda shilling remained stable against the dollar in today’s trading session, trading at 3775 / 3785 levels all day, according to Monday’s Absa Bank market report. The currency’s stability was largely supported by balanced market flows, with demand for dollars from importers and corporate players being adequately matched by inflows from exporters, remittances, and…
The Uganda shilling experienced a volatile but relatively stable week against the dollar, opening Monday at 3770 / 3780 and closing the week marginally weaker at 3775 / 3785, according to Absa Bank Uganda’s weekly market report. According to the report, the local currency initially depreciated to 3780 / 3790 amid sustained interbank and corporate…
