The Uganda shilling strengthened against the US dollar in today’s trading session, supported by subdued greenback demand from most corporate players, according to Absa Bank Uganda’s Wednesday market report. According to the report, the local currency also benefited from continued inflows from remittances and the commodities sector, closing at 3720/3730 compared to the previous session’s…
The shilling weakened further today as interbank participants moved aggressively to cover short dollar positions amid sustained hard currency demand from corporate clients, according to Absa Bank daily updates. Strong demand from the energy and manufacturing sectors continued to weigh on the local unit, outweighing inflows from remittances and commodity exporters. As a result, the…
Uganda’s property market entered 2026 balancing a robust 6.4% GDP growth projection against a backdrop of global volatility and significant domestic shifts. According to the Knight Frank Uganda’s performance review of Kampala’s property market over the first half of 2026, while external shocks from the Middle East conflict lifted fuel prices and pushed annual inflation…
Despite some support from remittance inflows and commodity exporters, the Uganda shilling weakened against the dollar on Monday, according to Absa daily market report. According to the report demand from the energy and manufacturing sectors continued to exert pressure on the market. The shilling closed at 3715/3725, softer than last week’s close of 3705/3715. Money…
When Henry Musasizi, the finance minister, told Journalists on the sidelines of the Uganda Development Bank’s annual general meeting that he wants the bank’s lending rate to fall from 12% toward single digits, he seemed to describe a goal that sits awkwardly next to his own ministry’s borrowing habits. Commercial banks charge businesses an average…
By Prof Augustus Nuwagaba (PhD), Deputy Governor Bank of Uganda There has been a lot of debate in regard to what makes a currency potent. Is it the exchange rate against the United States Dollar (USD)?; the size of the notes in your wallet?; or something else? The truth is; a strong currency starts with…
The Uganda shilling remained largely unchanged against the US dollar during Thursday trading session, hovering around 3705/3715 in a quiet market environment. According to Absa Bank report, balanced demand and supply dynamics in the interbank market kept the currency trading within a narrow range. Liquidity conditions in the money market continued to improve, supported by…
The Uganda shilling posted notable gains against the US dollar during today’s session, closing firmer at 3705/3715 from opening levels of 3720/3730. The move was largely supported by strong dollar supply on the interbank market. Furthermore, mid-month tax remittances underpinned demand for the local currency, while corporate dollar demand remained largely on the sidelines. In…
The Uganda shilling traded within a narrow range against the US dollar during today’s session, holding steady around 3720/3730 amid subdued market activity. The currency remained range-bound as balanced demand and supply conditions in the interbank market kept movements contained. In the money markets, liquidity conditions remained ample, with overnight and one-week funding rates averaging…
Uganda’s economy is growing strongly with low inflation, but a widening budget deficit and rising debt costs remain key weaknesses ahead of the long-awaited start of oil production later this year, the International Monetary Fund (IMF) said. The IMF’s Executive Board concluded its 2026 Article IV consultation with Uganda on July 27, praising robust growth…
