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…
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…
By Laura Bahemuka, Head MSME and Retail Products at Pearl Bank The evolution of banking from what it was, brick-and-mortar, to what we are witnessing today is all thanks to the growth in technology and innovations that have enabled digitisation in banking, so that more people are ushered into formal financial services through self-serve options….
Immaculate Asiimwe, Head of payments and channels at Equity Bank Uganda Equity Bank Uganda introduced Equity Online for Business, a next-generation platform designed to simplify financial management for enterprises of all sizes in April 2026. Immaculate Asiimwe, Head of payments and channels at Equity Bank Uganda, explains why the platform was developed, how it is…
The Uganda shilling strengthened against the dollar during today’s trading session, supported by subdued corporate dollar demand, according to Wednesday’s Market Report by Absa Bank Uganda. The local currency also benefited from month-end foreign exchange inflows, particularly from remittances and non-governmental organizations (NGOs). As a result, the shilling appreciated from opening levels of 3755 /…
The Uganda shilling began the week on a depreciating trend, pressured by strong corporate dollar demand from the telecommunications, energy, and manufacturing sectors, according to Absa Bank Monday Market Report. Limited dollar inflows offered little support to the local currency, which weakened to close at 3705/3715 compared to its opening levels of 3690/3700. Liquidity conditions…
The Uganda shilling lost further 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, according to Absa Bank Uganda’s weekly report. The shilling closed the week trading at 3690 / 3700 levels compared to the week’s opening…
The Uganda shilling extended its depreciation trend against the dollar in today’s trading session, closing at 3700/3710, compared to opening levels of 3685/3695. According to Tuesday’s Absa Market Report, the shilling’s weakness was primarily driven by strong dollar demand from corporates and offshore investors, largely stemming from heightened geopolitical tensions in the Middle East. This…
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…
