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
Uganda Shilling strengthens amid commodity inflows
The Ugandan shilling demonstrated relative strength in the first week of the month, opening between Shs 3,675 and Shs 3,685 and strengthening to Shs 3,665 / 3,675 by Friday morning. The improvement was primarily driven by portfolio flows, commodity inflows, and remittances, which outweighed corporate demand. The local currency is
Local currency holds steady amid dollar inflows
The local unit was largely stable this week as dollar supply from commodity exporters and portfolio investors continued to keep existing demand from energy and manufacturing firms at bay. The local unit was seen trading at 3675 / 3685 levels on Friday, a little weaker than the week’s opening of
Shilling Gains as Portfolio Investors and Exporters Drive Market Moves
A combination of strong inflows from portfolio investors and commodity exporters helped the local unit register gains against the Greenback during the week, Richard Nsubuga, Trader CIB Markets Absa Bank Uganda said. The shilling touched February highs of 3660 / 3670 levels on Thursday morning, a level which attracted
