The Uganda shilling came under depreciation pressure against the US dollar during the early trading session, weakening from 3680/3690 to an intraday low of 3695/3705 before recovering to close at 3685/3695. This was according to Absa Bank’s Monday market report. The move was largely driven by strong demand from interbank market participants. However, steady commodity…
By James Sserumaga, Head of Bancassurance, Equity Bank Uganda Uganda’s bancassurance industry continues to demonstrate remarkable momentum, with banks generating more than UGX 80.8 billion in insurance premiums during the first quarter of 2026 alone. According to the latest industry performance report, Equity Bank Uganda ranked fourth among the country’s 22 licensed bancassurance providers, generating…
The Uganda shilling lost ground during the week weighed down by robust demand for hard currency from local market participants, offshore investors and renewed tensions coming out of the Middle East in the recent hours of the day. According to Absa Bank Uganda weekly market report, the shilling closed the day trading at 3670 /…
The Uganda shilling strengthened against the U.S. dollar, reversing some of the losses recorded earlier as dollar demand softened following market turbulence triggered by tensions in the Middle East. According to Absa Bank Uganda Thursday market report, increased dollar sales in the interbank market supported the local currency, with the shilling closing at 3680/3690 compared…
The Uganda shilling lost ground on Wednesday weighed down by robust demand for hard currency from local market participants and offshore investors liquidating part of their government bond holdings ahead of tomorrow’s redemption and renewed tensions coming out of the Middle East in the recent hours of the day. According to Absa Bank Uganda’s Wednesday…
By Prof. Augustus Nuwagaba, Deputy Governor Bank of Uganda Conventional economics dictates that economic growth must generate employment. Why? Because jobless growth is neither desirable nor sustainable. It is gainful employment that creates robust aggregate demand, which is a major driver of sustained economic growth. Furthermore, it is an obvious truth that robust wealth creation…
The Uganda shilling traded on a stable footing today, with balanced demand and supply conditions keeping the market largely unchanged, according to Wednesday’s Absa Market Report. Market participants remained focused on the first government bond issuance of the new fiscal year. The currency opened and closed at 3660/3670. In the money markets, liquidity conditions remained…
The Uganda shilling was unchanged against the dollar in a quiet trading session, with market activity remaining subdued as corporate participants focused on meeting fiscal year-end tax obligations. This is according to Absa Bank’s Tuesday Market report. The market activity kept most players on the sidelines, resulting in limited market flows. The pair opened…
The Uganda shilling traded under pressure during the week driven by sustained corporate demand amid weaker dollar inflows, according to Absa Bank Weekly Market Report. Dollar supply from entities paying end of Financial Year taxes wasn’t sufficient to offer support to the local unit. Additionally, offshore investor appetite for the foreign currency remained elevated amid…
The Uganda shilling pared back some of the losses recorded earlier in the week, supported by subdued dollar demand and a renewed influx of foreign currency supply on the interbank market, according to Thursday Market Report by Absa Bank Uganda. The local unit found footing as corporate dollar demand remained relatively light. The USD/UGX pair…
