Petrol prices have jumped to Shs7,000 per litre from Shs4,000 in September, as the dollar climbs to Shs4,000 from Shs3,700 Kampala, Uganda | JULIUS BUSINGE | Uganda’s government is resisting broad fuel subsidies and artificial support for the shilling, a decision that could prolong pressure on households and …
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COMMENT | WILSON MANISHIMWE | The Uganda Shilling has experienced a sharp depreciation over the US Dollar recently, driven primarily by escalating international political tensions, a spike in global oil prices and intense dollar demand from corporate sectors. Available data indicates that the exchange rate hit UGX 3,920 per …
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Kampala, Uganda | URN | The Uganda Shilling has continued to weaken against the US Dollar, with the official Bank of Uganda (BoU) exchange rate reaching new highs on Tuesday. The dollar was quoted at 3,919 Shillings on the official market, while commercial banks were selling it for as much …
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Kampala, Uganda | URN | The Uganda shilling has recovered strongly against the US dollar after weeks of depreciation, with the Bank of Uganda expressing confidence that the local currency will stabilize over the coming financial year as commercial oil production, robust coffee exports and rising foreign investment boost foreign …
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Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling has continued to strengthen against the US Dollar in recent months, even as the country went through parliamentary and presidential elections last week. By mid-January, the Shilling was trading at about 3,443 Shillings for buying and 3,453.18 Shillings as the official …
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Ethiopia and Kenya may become Africa’s first countries to repay Chinese loans in Beijing’s currency. It’s the latest in a wider de-dollarization trend that is sweeping across the continent. SPECIAL REPORT | BIRD AGENCY | Ethiopia and Kenya are turning to the Chinese yuan, seeking relief from the high cost …
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WINDHOEK, Namibia | Xinhua | Namibia faces tighter U.S. dollar liquidity and higher settlement costs, as the recently imposed 30-percent U.S. tariffs on South African exports weaken the very financial channels it relies on for cross-border trade payments, according to an analysis by Namibian research and investment firm Simonis Storm Securities …
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Kampala, Uganda | THE INDEPENDENT | The Ugandan Shilling continued strengthening against the US Dollar in the year 2024/25 as remittances, exports and new government policies. The local currency ended June 2025, trading at an average mid-rate of 3,605.84 Shillings per dollar, compared to 3,653.40 per USD in May 2025, …
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COMMENT | Maya Majueran – XINHUA | A multi-polar international monetary system envisions a global financial architecture in which multiple currencies, rather than a single dominant one such as the U.S. dollar, are widely used for international trade, finance, and as reserve assets. This model fosters a multi-currency ecosystem, enabling …
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His approach to weakening it could spell the end of the US dollar’s reign as the dominant international currency COMMENT | JEFFREY FRANKEL | In 1985, U.S. officials met with their counterparts from the other G5 countries at New York City’s Plaza Hotel to negotiate a coordinated intervention to bring down …
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The Independent Uganda: You get the Truth we Pay the Price
