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Bank of Uganda

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
The head office of the Bank of Uganda in Kampala
Bank of Uganda

Provision releases and currency gains drive Bank of Uganda’s doubled surplus

Bank of Uganda's reported surplus doubled to Shs1.3tn ($365.5mn), but underlying earnings fell once provisions and currency gains are removed
Customers at a roadside kiosk in Uganda covered in yellow MTN Mobile Money signs, one woman showing a phone to the attendant while a man stands nearby.
Mobile payments

Mobile money value reaches 72 per cent of 2025 total

Mobile money transactions in Uganda were worth Shs263tn in seven months, and first-half value rose 32.5 per cent, up from 31.2 per cent a year earlier
President Yoweri Museveni speaking at a podium bearing the presidential seal during the Independence Day celebration, wearing a white shirt and a maroon, white and gold sash.
Foreign exchange

Museveni rejects selling dollar reserves to prop up the shilling

Uganda’s reserves stood at $6.52bn in August, nearly double February 2024, as Museveni urges fewer imports instead of dollar sales to support the shilling.

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