Stable Shilling Masks Rising Liquidity and Borrowing Pressures
The Uganda shilling remained broadly stable against the US dollar during the week, trading within the 3,755–3,775 range. However, signs point to potential appreciation in the near term, as corporate demand is expected to ease, with many firms conserving shilling liquidity to meet end-of-financial-year tax obligations. The currency pair was
Shilling slides further as dollar demand surges, global tensions bite
The Uganda shilling has continued its losing streak, weakening to 3775/3785 against the US dollar this week, down from 3750/3760 at the start of last week, as demand for hard currency tightened its grip on the market. Traders say the pressure came mainly from heavy dollar demand by corporates in
“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
