Tag Archives: shilling

Kampala, Uganda | THE INDEPENDENT |  Quarterly Review of the Performance of Uganda’s Financial Markets, with Catherine Kijjagulwe, Head of Trading at Absa Bank Uganda. ****** QUESTION:  How did the shilling open the third quarter of the year? The shilling opened the month of July 2023 at the 3665/3675 levels. QN: What …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has clarified that the proposed replacement of the 1000 Shilling currency note with a coin will not affect its operation or legality when the coin is introduced. Rather, the two will continue being legal tender after the printing of the …

Kampala, Uganda | THE INDEPENDENT  | There is concern that the suspension by the World Bank of new loans to Uganda could influence other development finance institutions to take similar actions. If that happens, the country could be forced to take drastic measures and options to avoid the possible impact. …

NEWS ANALYSIS | THE INDEPENDETN | The Kenya Shilling has steadily been declining against most currencies, including global leaders like the US Dollar and regional currencies, mainly the Uganda and Tanzania Shilling. For so long, the Uganda Shilling traded at an average of 30 to the Kenya Shilling and one …

Nairobi, Kenya | Xinhua | Kenya’s foreign exchange reserves declined 9.42 billion shillings (about 70 million U.S. dollars) this week, piling pressure on the shilling that similarly fell to a new low, the Central Bank of Kenya said in its update of the financial markets released Friday evening. The reserves stood at 6.38 …

Nairobi, Kenya | Xinhua | The Kenyan shilling hit the lowest level ever against the U.S. dollar this week as the East African nation grapples with a dollar shortage crisis, the Central Bank of Kenya said in its update of the financial markets released Friday. The shilling traded at an average of …

Kampala, Uganda | THE INDEPENDENT | The Uganda shilling ended the year 2022 on a strong not having appreciated against the US dollar over the previous few months. According to the Ministry of Finance, Planning and Economic Development, the Ugandan shilling appreciated by 1.9 percent in December against the US Dollar, …

Nairobi, Kenya | Xinhua | Kenya has moved to diversify the currency composition of its external debt to curb its faster expansion as the local currency, the shilling, fast loses ground against major international currencies, according to the National Treasury. The shilling has declined nearly 8 percent against the dollar year-to-date, …

Kampala, Uganda | THE INDEPENDENT | Credit in shillings to the private sector has grown significantly from about four percent to 18.5 percent in 2018, according to the Bank of Uganda. The executive director research and policy Adam Mugume says people are borrowing more shilling-denominated loans than dollar-denominated ones because of …

Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling has strengthened against the dollar and other currencies as the festive season sets in. The Shilling has been trading in the range of 3,650/90 throughout the week, a marked gain compared to previous weeks. Money market watchers attribute the strengthening of the …