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

19 January 2024

Bank of Uganda shuts down EFC Uganda, takes control

Bank of Uganda shut down the microfinance institution on Friday, citing failure to meet minimum capital requirements and 'poor corporate governance'

An EFC Uganda Ltd branch. The microfinance deposit-taking institution was closed by the Bank of Uganda on 19 January 2024 for failing to meet minimum capital requirements and for what the regulator called “poor corporate governance.”
6 December 2023

BoU’s Monetary Policy Statement for December 2023 — Full text

BoU's monetary policy committee maintained the central bank rate at 9.5 per cent

The crest of the Bank of Uganda on its premises
6 December 2023

Bank of Uganda maintains policy rate at 9.5%

Central bank kept its key policy rate unchanged, as well as the rediscount rate and the bank rate

Bank of Uganda's headquarters in Kampala
30 November 2023

Remarks by BoU DG Atingi-Ego at second National Financial Inclusion Strategy launch

NFIS II aims to tackle financial exclusion and barriers to access, empower consumers through protection and education, and increase the use of affordable financial products

The exterior of a shop offering mobile money services in Kampala
20 October 2023

Bank of Uganda’s role in socioeconomic transformation

The Bank of Uganda's mandate rests on three pillars: maintaining price stability, ensuring the safety and soundness of financial institutions, and managing the payments system

A male official speaking at a town hall forum
17 October 2023

Credit standards for business loans tightened in third quarter, BoU says

A central bank survey showed that commercial bank lending criteria tightened for all sectors except electricity and water utilities

The Bank of Uganda Coat of Arms at the Bank of Uganda HQ in Kampala, Uganda
5 October 2023

Monetary Policy Statement for October 2023: BoU’s full statement

On 5 October 2023, Bank of Uganda's Monetary Policy Committee maintained the Central Bank Rate at 9.5 per cent

Bank of Uganda's headquarters in Kampala
5 October 2023

Bank of Uganda keeps policy rate on hold as inflation eases

The central bank on Thursday kept its policy rate unchanged, stating that its current policy stance aligns with its inflation outlook and supports economic growth

The Bank of Uganda Coat of Arms at the Bank of Uganda HQ in Kampala, Uganda
4 October 2023

Private sector lending rises to six-month high in August

Credit to Uganda's private sector rose to a six-month high in August as the economy continued a slow but steady recovery path, the central bank said on Tuesday ahead of its policy rate meeting

Entrance to the personal banking section of a bank
12 September 2023

BoU deputy governor’s speech at the launch of Islamic banking in Uganda

Deputy governor says Islamic banking will promote financial inclusion and expand product range

A group photo of Salaam Bank and Bank of Uganda officials in the Central Bank's boardroom