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Tag Archives: US dollar

Appreciation of the Uganda Shilling gives mixed reactions

Appreciation was mainly driven by inflows from offshore investors, NGOs, coffee export receipts and non-financial institutions amidst demand from oil Kampala, Uganda | THE INDEPENDENT | Uganda Shillings current strength against the United States Dollar is causing discomfort within the business community, considering how it might boost or affect their operations. The Uganda …

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Shilling depreciates as economic activity picks

Kampala, Uganda | THE INDEPENDENT | The Uganda shilling has started losing its strength against the US Dollar in a reverse trend that had seen the local currency remain strong during and after the lockdown period. In a trend that surprised observers, the shilling held steady when diaspora remittances, offshore …

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Coronavirus pushes Zimbabwe to re-introduce use of US dollar

Harare, Zimbabwe | AFP | Zimbabwe has re-introduced the use of foreign currency for domestic transactions in what was seen as a bid to tap into private forex savings as the country gears up for the battle against the novel coronavirus. In a statement the central bank governor John Mangudya said the move is part …

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Zimbabwe to re-introduce local currency within a year: minister

Harare, Zimbabwe | AFP | Zimbabwe will re-introduce a local currency “in less than 12 months”, after using the US dollar and regional currencies since a hyperinflation crisis a decade ago, the finance minister said in an interview published on Saturday. President Emmerson Mnangagwa, who took over from long-time ruler Robert Mugabe and won a …

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Exchange rate qualms in October

The first week of October has not been smooth sailing for the Uganda shilling.  By close of the trading week that ended Oct. 07, the local currency had run down from Shs 3,385/3,395 on Sept.30 to Shs 3,405/3,415 to the US dollar, representing a loss of Shs 20. This is …

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Ugandan shilling appreciates Vs US dollar

By Julius Businge The Uganda shilling appreciated during the week that ended July 5 to trade 2575/85 from 2590/00 per US dollar after policy makers maintained the key lending rate at 11% citing inflationary pressures. Traders said the market saw good dollar selling interest before energy and manufacturing sub-sectors’ demand squared off …

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