The Uganda shilling strengthened against the US dollar in today’s trading session, supported by robust inflows from the commodities sector, month-end remittances, and Not-for-Profit organizations, which kept the market well supplied with dollars. According to Absa Bank daily report, as a result, the local currency appreciated to close firm at 4230 / 4240 from opening…
The Uganda shilling opened the day on a weaker footing, slipping from opening levels of 4275/4285 to an intraday low of 4295/4305 during the morning session, pressured by strong corporate demand for the US dollar. According to Absa Bank daily market report, However, the local unit recovered its earlier losses in afternoon trade, supported by…
The Uganda shilling experienced another volatile week against the US dollar, initially extending its depreciation to a fresh record low before recovering on improved foreign-currency supply and softer demand, according to Absa Bank weekly market report. The local unit opened Monday at UGX 4440 / 4450 and weakened to UGX 4500 / 4510, as sustained…
The Uganda shilling posted gains against the US dollar on Thursday (29th October 2026), appreciating from opening levels of 4340 /4350 to an intraday high of 4330 / 4340, before closing the session at 4345/4355, according to Absa Bank daily market update report. According to the report, the recovery was largely driven by subdued dollar…
The Uganda shilling posted notable gains against the US dollar on Tuesday, appreciating from opening levels of 4500/4510 to an intraday high of 4340/4350, before closing the session at 4380/4390, according to Absa Bank daily market report. The recovery was largely driven by subdued dollar demand and a healthy supply of foreign exchange inflows, which…
The Uganda shilling experienced another sharply bearish and volatile week against the US dollar, as sustained corporate, interbank and offshore demand significantly exceeded available foreign-currency supply, according to Absa Bank Uganda weekly market report. Through the week, the local unit depreciated by approximately 5.79%, marking a significant extension of the recent bearish trend, trading at…
The Uganda shilling remained under pressure against the dollar, depreciating to 4205 / 4215 from opening levels of 4180 / 4190, according to Absa Bank Uganda Wednesday market report. The local unit’s weakness was largely attributed to persistent corporate demand for dollars, particularly from importers and players in the energy sector, against a backdrop of…
The Uganda shilling experienced an exceptionally volatile week against the US dollar, initially extending its steep depreciation before recovering following decisive intervention by the Bank of Uganda, according to this week’s report by Absa Bank Uganda. The local unit weakened from Monday’s opening levels of UGX 4,090/4,100 to close at UGX 4,150/4,160, as sustained demand…
The Uganda shilling surrendered the gains recorded in the previous session, depreciating sharply against the US dollar as it moved from 3960 / 3970 at the open to close at 4045 / 4055, according to Thursday Absa Bank Uganda market report. According to the report, the reversal was primarily driven by strong hard currency demand…
Absa Bank Uganda has launched a three-month SME Business Credit Campaign aimed at encouraging digital payments among small and medium-sized enterprises (SMEs) while rewarding businesses that embrace cashless transactions. Running from 15 October 2026 to 15 January 2027, the campaign will offer UGX 66 million in cash prizes, with one customer winning UGX 22 million…
