By Dr Enock Nyorekwa Twinoburyo As an investor, I am certainly thrilled by the news of NSSF’s 22.53% interest rate. A windfall reap is appreciable. For millions of members who have entrusted their savings to the Fund, such a return is welcome news. It is also a remarkable increase from the 13.5% declared last year…
By Simon Ssekankya Nsubuga, Managing Director Hardware World Ltd For most Ugandans, building a home is not something that happens overnight. It takes years of saving, borrowing and making sacrifices. So, when the walls are finally up and it is time to put on the roof, the first question is often simple, “How much is…
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…
The Uganda shilling was marginally weaker against the dollar in today’s session, with the pair closing at 3775 / 3785, compared to opening levels of 3770 / 3780, according to Absa Bank market report for Wednesday. The slight depreciation was driven by corporate dollar demand, which moderately outpaced existing hard currency supply in the market….
The Uganda shilling experienced a volatile month against the US dollar, initially appreciating before reversing course sharply toward the end of the period, according to Absa Bank Uganda weekly market report. Richard Nsubuga, the bank’s Ag. Head of Trading says the local currency opened the month at 3745 / 3755 and steadily strengthened to a…
By Girma Wake, Acting CEO Uganda Airlines Dear Ugandans, I write to you this personal letter looking outside the window, amazed by the beautiful weather in Entebbe, a rare scene from all my worldly travels. On August 27, Uganda Airlines will mark seven years since its revival. I wish to congratulate you and the airline,…
The Uganda shilling traded within a relatively narrow range during the week, posting a modest depreciation against the US dollar as sustained corporate demand outweighed available hard currency inflows, according to Absa Bank weekly market report. Early in the week, demand from the energy and manufacturing sectors and the interbank exerted pressure on the local…
The Uganda shilling posted a modest appreciation in today’s trading session, supported by muted dollar demand in the interbank market, according to Thursday Absa Bank market report. The local currency also benefited from sustained inflows from remittances and the commodities sector, closing at 3715 / 3725, firmer than the previous session’s close of 3720 /…
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…
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…
