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
Shilling holds steady amid liquidity management
The shilling was largely stable during the week trading within a narrow range of 3670-3785 area. Both dollar inflows and outflows squared off during the period. Most corporate entities opted to reserve their shilling reserves to clear mid-month tax obligations. We expect the currency to continue trading range bound between
Shilling Holds Steady Against the Dollar Amid Strong Inflows
The Ugandan shilling remained stable against the dollar throughout the week, supported by strong inflows from commodity exporters and remittance firms, which outpaced corporate demand. By Friday morning, the local currency was trading at 3668/3678, strengthening from the week’s opening levels of 3677/3687. In the near term, we expect the
Housing Finance digital solutions transforming customer experience
Aware of the stark reality that the global economy is increasingly getting digitized, Housing Finance Bank is setting the pace in Uganda through their digital campaign that comes with incentives for customer adoption to mobile banking, e-commerce and other related services. In an exclusive interview with John B.Kaweesi, the bank’s Head
Gov’t proposes Shs 57.441 trillion budget for financial year 2025/2026
The government has tabled the Budget Framework Paper ahead of the 2025/2026 fiscal year. The paper was presented by Henry Musasizi, the Minister of State for Finance. According to the Budget Framework Paper, the estimated budget for the next financial year stands at Shs 57.441 trillion, a reduction from the
Uganda shilling holds strong against the dollar amid sector demand and global market influences
The Uganda shilling opened the week on a strong note, trading at 3645/3655 against the U.S. dollar. It briefly hit 3640/3650 before stabilizing back at 3645/3655 during the early session. Continued dollar inflows from the agri-commodity sectors especially coffee and cocoa as well as inward remittances, helped the dollar maintain
