Treasury Bond Auction Sees Yield Surge, Undersubscription at 78%
The Uganda shilling traded sideways over the past week, briefly touching session highs of 3645/3655. Mid-week tax remittances provided support for the local unit, though buying interest from entities in the energy sector applied downward pressure. The currency closed the week marginally weaker at 3655/3665. Analysts anticipate that the shilling
“Currency, Money Markets Remain Steady Amid Global Trade Developments”
The Ugandan shilling remained stable, trading within the 3,650–3,670 range, supported by dollar inflows from commodity exporters and offshore investors, according to Richard Nsubuga, a Trader in CIB Markets at Absa Bank Uganda. Demand for the dollar remained low throughout the week. We anticipate the shilling will maintain its strength
Ugandan Shilling Ends April Steady as Dollar Inflows Bolster FX Market
The Ugandan shilling closed April trading steady within the 3655–3670 range, supported by dollar inflows from commodity exporters and offshore investors, according to Richard Nsubuga, Acting Head of Trading at Absa Bank Uganda. Demand for hard currency remained subdued throughout the week. Looking ahead, we anticipate the shilling will retain
Ugandan Shilling Remains Steady Amid Balanced Currency Flows and Improved Market Liquidity
The Ugandan shilling held firm against the US dollar throughout the week, trading within a narrow and stable range. This stability was supported by balanced activity between buyers and sellers in the foreign exchange market, according to Catherine Kijjagulwe, Acting Head of Markets at Absa Bank Uganda. Commodity-related inflows were
Shilling Under Pressure Amid Global Market Volatility
Just like other emerging and frontier market currencies, the Ugandan shilling faced significant pressure this week as offshore investors sold off local debt and converted the proceeds into hard currency. This reaction followed a surge in global risk-off sentiment after the U.S. President announced new tariffs, fueling concerns of an
Shilling Strengthens Amid Robust Currency Inflows, Market Eyes US Tariff Impact
The shilling demonstrated strength throughout the week, supported by robust inflows of hard currency, despite subdued corporate demand. At the start of the month, the exchange rate stood at 3660/3670. By mid-week, it appreciated to a yearly high of 3640/3650, attracting buyers from the energy and offshore sectors before closing
Shilling ends month on a stable note as market liquidity boosts butlook
The Ugandan shilling closed the month trading steadily at 3660/3670 per dollar, supported by corporate demand and strong inflows from portfolio investors, exporters, and remittance firms, according to Richard Nsubuga, Ag. Head of Trading at Absa Bank Uganda. Short-term projections remain positive, with expectations of the shilling fluctuating between 3640
Ugandan Shilling Remains Stable as Kenya’s Currency Faces Pressure
The Ugandan shilling remained stable throughout the week, trading consistently at 3660/3670 per dollar. The short-term outlook appears positive, with expectations that the shilling will continue its upward trend, likely fluctuating between 3640 and 3690 in the near term. Richard Nsubuga, Trader CIB Markets at Absa Bank Uganda, noted that
Governments, Companies Borrow USD 25 Trillion in 2024
Governments and companies borrowed a record USD 25 trillion from markets in 2024 USD 10 trillion more than pre-COVID levels and nearly three times the amount raised in 2007 according to the latest OECD report. The OECD Global Debt Report 2025: Financing Growth in a Challenging Debt Market Environment projects
Shilling Strengthens Amid Portfolio Inflows as Dollar Index Stabilizes
A combination of portfolio flows, commodity inflows, and remittances outweighed corporate demand, helping the Ugandan shilling strengthen against the U.S. dollar during the week’s trading session, according to Richard Nsubuga, Trader CIB Markets at Absa Bank Uganda. The local unit traded at 3660/3670 per dollar, improving from the week’s opening
