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…
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 Bank of Uganda (BoU) has announced new over-the-counter cash withdrawal limits that will take effect on 1 January 2027, in a move aimed at encouraging greater use of digital payment systems. The new limits will apply to all accounts held with supervised financial institutions. Individual account holders will be allowed to withdraw up to…
The Uganda shilling was largely unchanged against the dollar in today’s session, holding at 3,645/3,655, according to the Monday’s Absa Bank Market Report. Trading was characterized by subdued dollar demand, with most corporate players remaining on the sidelines as market activity continues to recover in the early days of the new fiscal year. Inflows from…
Bank of Uganda has announced a Treasury Bills auction worth UGX 350 billion, inviting investors to bid for short-term government securities under Issue No. 1232. The auction will be held on Wednesday, July 8, 2026, while settlement for successful bids is scheduled for Thursday, July 9, 2026.The offer consists of three Treasury Bill tenors. The…
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…
Centenary Bank, a member of Centenary Group, launched GonzaPay, a secure, bank-backed digital wallet. Developed by Centenary Technology Services (Cente-Tech), the Group’s technology subsidiary, together with technology partner Drakma Limited, GonzaPay was unveiled at Next Media Park, Naguru. The platform is designed to bridge the gap between Uganda’s cash-heavy economy and modern digital finance, and…
By Prof Augustus Nuwagaba, PhD, Deputy Governor Bank of Uganda Every successful economy has built its prosperity on productivity. Whether a nation like Uganda or an individual person, we must constantly ask ourselves: How can we produce more, waste less, and create greater value from our resources? Take a farmer with one acre of land….
The Uganda shilling surged against the dollar to close the week at the 3455/3465 levels from the opening of 3487/3497, a consistent and spectacular performance throughout the week that saw significant portfolio inflows that were sold directly into the spot market, marking the shilling’s strongest level in 9 years, last seen in October 2016. According…
By Prof. Augustus Nuwagaba, Deputy Governor Bank of Uganda Of recent, there has been debate on the impact of capital inflows on domestic economies, specifically forex rates, currency performance, and economic growth. Large capital inflows bring considerable economic benefits to recipient countries. We must understand these dynamics to make informed decisions. It’s important to note…
