Uganda Shilling

Bank of Uganda to completely phase out UGX1000 paper note in preference for coins

by CEO East Africa MagazineNews & AnalysisThe Big StoryApril 5, 2024April 5, 2024

It’s no longer a question of what, but when. The government of Uganda says it will gradually phase out small denomination paper notes as one of the measures to reduce the cost of printing and circulating money. This is the second time the Bank of Uganda is committing to the recommendations…

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Uganda Shilling drops more than UGX130 in 2 days after World Bank reacts to Anti-Homosexuality Act

by Muhereza KyamuteteraIndustry & AnalysisThe Big StoryAugust 10, 2023August 10, 2023

As Uganda comes to terms with the suspension by the World Bank of any future lending to the country over its recent passing of the Anti-Homosexuality Act (AHA) and what that could mean to a number of Bank-funded infrastructure and social service projects, another victim of the expected international pushback…

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May 13th – May 19th, 2023: Weekly financial markets review and outlook

by Stephen KaboyoFinanceNews & AnalysisThe Big StoryMay 19, 2023May 19, 2023

The Ugandan Shilling was relatively stable with flows from commodity Exeter’s and offshore investors lending support. The unit held in a narrow range of  2715/25.In the neighbouring Kenya market, the Kenyan Shilling lost ground on elevated dollar demand from various sectors, trading at 137.38, and was kept to surrender more…

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10th – 17th July 2020 Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterFinanceJuly 17, 2020July 17, 2020

The local currency traded marginally stronger, pulling away from the key technical level of 3700, with both counters trading below that level as supply conditions improved, against subdued demand. Bid and ask quotes were at 3685/95. With the prevailing minimal volatility, markets were anticipating the Central Bank presence in the…

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Bank of Uganda further expected to cut Central Bank Rate to below 8 per cent

by Muhereza KyamuteteraFinanceThe Big StoryJune 7, 2020June 7, 2020

Ahead of the Central Bank’s announcement of its June 2020 Monetary Policy, experts have predicted that Bank of Uganda, will further cut its Central Bank Rate (CBR), in a bid to stimulate economic growth.If this comes to pass, this will be the second time the Central Bank is cutting the…

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29th May- 5th June: Weekly financial markets review and outlook with Stephen Kaboyo

by Stephen KaboyoFinanceMay 29, 2020May 29, 2020

The Ugandan Shilling this week, traded flat against a muted demand for the US Dollar. The shilling was on one hand supported by end month flows from charities and coffee export inflows coupled by Bank of Uganda liquidity mop-up operations that took out UGX839 billion equivalent to USD222 million.In the…

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15th May – 22nd May 2020: Weekly financial markets review and outlook with Stephen Kaboyo

by Stephen KaboyoFinanceMay 22, 2020May 22, 2020

The Uganda Shilling remained stable for most of the trading session, opening the week in the range of 3788/98 and closing at 3785/95 on the back of hard currency flows from the treasury auction and commodity exports amid depressed importer demand for forex.In the fixed income segment, the market continued…

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10th – 17th APRIL 2020: Weekly financial markets review with Stephen Kaboyo

by Stephen KaboyoFinanceThe Big StoryApril 17, 2020April 17, 2020

The forex market was calm with the UGX trading flat for most of the trading sessions as market activity was at the lowest ebb. Market players were seen on the fence as demand dipped due to the lockdown. Trading was in a narrow range, holding at UGX3765/3775 on the bid…

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MONEY MARKETS WITH STEPHEN KABOYO: UGX drops to weekly low after short-lived rebound

by Stephen KaboyoFinanceThe Big StoryApril 10, 2020April 10, 2020

Following a short-lived rebound early in the week, the local currency fell to a weekly low, testing the resistance level of UGX3,800, undercut by a pickup in demand from market players as risk sentiment deteriorated on account of a negative report indicating that exports declined by 8.7%, which meant minimal…

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MONEY MARKETS WITH STEPHEN KABOYO: BoU expected to cut April 2020 CBR; Shilling stabilises after a string of losses

by Stephen KaboyoFinanceThought LeadershipApril 3, 2020April 3, 2020

BOU to cut the policy rate for April 2020 Globally Central Banks have reacted en masse to prop up their economies in the face of the Covid-19. BOU is expected to move alongside its peers and slash its policy rate; a bigger cut than usual is expected to send a…

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