Tag Archives: shilling

Kampala, Uganda| CSBAG|  Every time a government official comes out to explain why the economy is poorly performing, they cite external and natural factors. These range from slow growth in China, to fall in commodity prices, tight financing conditions in Europe, and geo-political events such as Brexit and U.S politics. …

Food prices remain high as service companies offer cuts The end of year festive season is coming during tough times and businesses need to devise new ways of reaching out to old customers and attracting news ones, according to Charles Ocici, the executive director of Enterprise Uganda, a UNDP sponsored …

The first week of October has not been smooth sailing for the Uganda shilling.  By close of the trading week that ended Oct. 07, the local currency had run down from Shs 3,385/3,395 on Sept.30 to Shs 3,405/3,415 to the US dollar, representing a loss of Shs 20. This is …

By Patrick Kagenda A look at the underlying problem On July 13, the Monetary Policy Committee of the Central Bank met to craft an appropriate response to shocks in the economy presented by the whipping the shilling has suffered in recent months. At that point, the local currency had shade …

By Julius Businge Denis Mashanyu, the forex trader at Standard Chartered Bank says the Uganda shilling weakened against the US dollar during the week that ended Dec. 7 closing 2690/00 from the previous close of 2675/85. Mashanyu said the move came after the central bank cut the central bank rate …

By Julius Businge The Uganda Shilling is forecast to stabilise as the high US dollar demand from importers, which sent the local currency tumbling to a 13-month low in recent days, starts to recede, according to Dickson Magecha, the Forex Trader at Standard Chartered Bank Magecha said at the end …

By Julius Businge The Uganda shilling tumbled 2.2% against the dollar touching 2670/80 in the week ending Nov. 23 from the previous close of 2605/15. The central bank intervened in the early morning session on Friday-Nov. 23 to halt the slide as demand for dollar surged. Denis Mashanyu, the forex trader …

By Julius Businge The Ugandan shilling fell against foreign currencies notably the dollar on Wednesday, dealers said. Commercial banks quoted the currency of Africa’s largest coffee exporter at 2,587/2,597, weaker than Tuesday’s close of 2,575/2,585. “There is some depreciation of the local currency as a result of better liquidity conditions …

By Julius Businge The Uganda shilling weakened in the week against the dollar testing 2510/20 midweek on the back of global risk aversion. Denis Mashanyu, a forex trader at Standard Chartered Bank said the local unit later recovered to settle in the same region it had opened of 2470/80. The recovery …

By Patrick Kagenda In the middle of last year, the Ugandan Shilling appreciated against the dollar. The importers were all smiles as they required fewer shillings to buy dollars thereby making their businesses flow smoothly. On the punching end were the exporters who would earn less from their exports as …