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 […]
Uganda’s tax collectors are predicting a drastic reduction in food prices and inflation rates in the coming four to six weeks. According to the Uganda Revenue Authority Commissioner in charge of customs, Richard Kamugyugo, this comes at a time when harvests are being made by farmers following a long drought period which forced the prices to […]
The Bank of Uganda is reducing the circulation of the Uganda shillings in an attempt to strengthen the local currency against the dollar and stabilize the economy. The Director of Research at the central Bank Adam Mugume says the move is vital because the Central Bank uses the money in circulation and money held by […]