The ministry for finance and Bank of Uganda are currently involved in a row over repayment of city tycoon Basajjabalaba’s shs142 billion compensation funds to the central bank coffers for losing city markets. Bank of Uganda Governor Tumusiime Mutebile told the public accounts committee that much as the then finance Syda Bbumba assured him that his […]
Bank of Uganda Governor Tumusiime Mutebile has been thrown out the oil Adhoc committee investigating the oil sector for the second time for failure to produce evidence to the committee that he was directed by president Museveni to draw money from the consolidated fund to finance the purchase of fighter jets to the tune of 1.7 trillion […]
The Members of Parliament on the adhoc committee investigating the bribery cases in the oil sector have today thrown out the Bank of Uganda governor Emmanuel Mutebile for attending to them unprepared. Mutebile had been summoned by the committee to explain the One trillion shillings the Uganda Revenue Authority executive director, Allen Kagina said has […]
Bank of Uganda has raised the Central Bank Rate (CBR) by 2% with the aim of tightening monetary policy in the country and deal with inflation. BOU deputy governor Dr Louis Kasekende says the CBR which was raised to 14% in July, has shown signs of decreasing inflation. Dr Kasekende says this has forced BOU […]
The International Bank Note Society’s (IBNS) ‘Banknote of 2010’ is Uganda’s 50,000-shilling note. This year, for the first time, the award was decided by a popular vote by members of the IBNS, rather than by a committee, and the award shows a strong appreciation of the 50,000-shilling note among a large community of banknote enthusiasts. […]
The shilling traded weak against the US dollar and other major currencies during the week to closing at 2,680 to the US dollar. , That is nearly 3% depreciation from the beginning of the week at 2,610 levels. The Bank of Uganda says there has been sizable foreign exchange demand emerging from corporate world while […]
The Bank of Uganda has refuted reports that the Governor of the Central Bank Prof. Emmanuel Tumusiime Mutebile has resigned. The Deputy Governor at BOU, Dr. Louis Kasekende says the rumors are unfounded because Mutebile intends to serve his five year term for which he was reappointed in January 2011 to the full. Kasekende says Mutebile is […]
The Deputy governor at the bank, Dr. Louis Kasekende has moved to control the current high inflation rates which they say has resulted from poor price control. The Bank of Uganda says as a way to control inflation as well as closely monitoring commercial banks business transaction on a daily basis, the central bank is introducing a […]
The governor of bank of Uganda, Emmanuel Mutebile has revealed tojournalists that the country’s reserves are healthy with a tune of 500 million US dollars which can last the country for four months. Mutebile reveals this following yesterday’s media report that ran a story citing how Mutebile and president Museveni clashed over the president’s hash decision to […]
The Ugandan shilling has hit a record low value against the U.S. dollar currently selling at about 2,410 to one US dollar. The shillings started losing again against the dollar after a few months of near comeback where the shilling had dropped from the 2,390 mark to about 3,278 in early June. It is not […]