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
How Shs 60 billion Fraudulent Payments Were Initiated and Executed at Bank of Uganda
In 2024, the country witnessed a significant financial fraud involving $21,013,562.31 (Shs 77.1 billion) at the Bank of Uganda (BoU). This fraud led to the arrest and charging of officials from the Ministry of Finance, including the Accountant General and seven others. Six of them were however released on bail.
