Subscribe | Sign In | Subscribe

Bank of Uganda

Single-storey building with a red roof and signs for Centenary Bank's CenteAgent and dfcu Agent, plus Airtel Money and other agent notices by the door.

Shilling in now familiar territory with another record low

Uganda’s shilling reached another record low on Friday, a day after the central bank resumed selling foreign currency
Glass-fronted European Investment Bank headquarters in Luxembourg, with flags of EU member states outside.
Green finance

EIB backing targets climate-risk rules at Ugandan banks

Uganda’s green taxonomy and existing climate-risk rules move closer to implementation under EIB Global support
A stack of Ugandan shilling banknotes—50,000, 20,000, 10,000, and 5,000—arranged in a currency counting machine.
Uganda Shilling

BoU turns to dollar sales as political warnings meet market pressure

Bank of Uganda sold foreign currency after rate rises failed to halt the shilling’s slide, despite warnings from Museveni and Ggoobi against using reserves
Street scene outside a luggage shop in downtown Kampala
Uganda Shilling

Shilling closes at record low a week after rate rise

Uganda’s shilling closed at Shs4,208.10 to the dollar, a record low, one week after the central bank raised its benchmark rate
A stack of Ugandan shilling banknotes—50,000, 20,000, 10,000, and 5,000—arranged in a currency counting machine.
Exchange rates

Shilling surrenders rate-hike gains as the dollar returns

Uganda’s shilling erased Wednesday’s gains by Friday, with the dollar back above its opening level on the day of the Bank of Uganda’s rate increase
An illustration for property, mortgages, bank loans and home savings. A model of a house sitting on architectural plans, with a blurred piggy bank in the background.
Explainer

What the Bank of Uganda’s rise to 12 per cent means for the shilling, fuel and loans

How the Bank of Uganda's increase in its policy rate to 12 per cent could affect the shilling, pump prices, and existing loans and savings
The Bank of Uganda's headquarters in Kampala

Bank of Uganda raises benchmark rate to 12 per cent at special meeting

Uganda’s central bank lifted its rate to 12 per cent, the largest increase since 2011, and raised its inflation forecasts as the shilling weakened
Trading screen showing a candlestick price chart that falls and then partly recovers, beside a list of share prices
Absa Africa Financial Markets Index

Uganda ranks fourth in Absa’s markets index, held back by pensions and depth

Uganda is the only one of 26 African countries scored in both years to lose ground in Absa's financial markets index since 2022, as Kenya and Ghana close in
Various currency notes of African countries are seen in this photo
Foreign exchange

Shilling opens past Shs4,150 as Bloomberg reports offshore selling of bonds

The shilling has lost 12.8 per cent this year, and Absa and Alpha Capital Partners name offshore selling, corporate dollar demand and energy costs

More Bank of Uganda

21 September 2026

Bank of Uganda

Bank of Uganda tightens liquidity as shilling falls to weakest since 2024

The Bank of Uganda says it can stabilise the shilling, and has raised banks' cash reserve requirement to 13.5 per cent for the second time this year

A stack of Ugandan shilling banknotes—50,000, 20,000, 10,000, and 5,000—arranged in a currency counting machine.
1 June 2026

Inflation

Fuel prices push inflation higher in May

Headline inflation edged up in May as energy and transport costs climbed sharply amid higher global oil prices

Several white fuel tankers bearing "Danger Petrol" signs parked on a dirt lot at a storage depot in Jinja, Uganda, under a blue sky.
15 May 2026

Monetary policy

Bank of Uganda’s Monetary Policy Statement for May 2026 — Full text

Monetary Policy Committee keeps rates on hold for a seventh consecutive meeting but raises its inflation outlook as fuel costs begin feeding through

The oil and chemical tanker Petrel Pacific moored at a terminal during twilight, discharging ballast water.
30 April 2026

Rising energy prices push inflation higher in April

Inflation rose to 3% in April as fuel and transport costs increased, highlighting growing energy-driven price pressures

Kampala road in Kampala on a busy day
26 April 2026

Sovereign bonds

February’s bond rally fades as 10-year yield jumps 100 basis points

Uganda's 10-year bond yield rose a full percentage point in two months, partially reversing February's contraction even as investor demand hit exceptional levels

The Bank of Uganda's headquarters in Kampala
23 March 2026

Uganda’s oil moment approaches — but the risks are multiplying

Uganda's first oil is due in H2 2026, but timing risks, fiscal pressures, and a Middle East conflict cloud the outlook

The offices of the Ministry of Finance and Economic Development in Kampala
23 February 2026

Uganda bonds draw strong demand as yields fall to near two-year lows

Investors accepted sub-coupon rates across all three tenors at February's auction, signalling a marked shift in sentiment towards Ugandan sovereign debt

A stack of Ugandan shilling banknotes—50,000, 20,000, 10,000, and 5,000—arranged in a currency counting machine.
10 February 2026

Bank of Uganda’s Monetary Policy Statement for February 2026: the full text

The Bank of Uganda maintains its 9.75% rate, balancing subdued inflation against global uncertainty and a positive output gap

Michael Atingi-Ego, Bank of Uganda deputy governor, at a meeting at the bank's Kampala headquarters, February 2024.
9 February 2026

Bank of Uganda keeps rates on hold as inflation stays tame and growth holds firm

The Bank of Uganda maintains its 9.75% rate, balancing subdued inflation against global uncertainty and a positive output gap

The sun sets behind the unisphere during day five of the 2009 U.S. Open at the USTA Billie Jean King National Tennis Center on September 4, 2009 in the Flushing neighborhood of the Queens borough of New York City.
30 January 2026

Inflation inches up to 3.2% on higher transport and service costs

January inflation rose to 3.2% as service costs jumped, offsetting easing food price pressures from December

Increasing piles of coins with a red arrow on a square patterned background.