KAMPALA, Uganda | Xinhua | Uganda’s coffee exports have recorded the highest foreign exchange earnings in 30 years due to improved quantity and quality, a state regulator said Thursday. The country earned 1.14 billion U.S. dollars from coffee exports in fiscal year 2023/2024, up from 846 million dollars in the …
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Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling ended the year 2023 on a stronger note, having stabilized against the US Dollar, and did better than its peers in the East African Community, according to analysts. The currency strength has fluctuated between 3,767 and 3,815 to the US dollar over …
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What you need to know INTERVIEW | CHRISTOPHER ADAM | The high cost of making cross border payments on the African continent has driven governments on the continent to seek options of settling trade and other transactions in local currencies. This has given birth to the Pan-African Payment and Settlement …
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Kampala, Uganda | THE INDEPENDENT | The Foreign Exchange (Amendment) Bill, 2023 passed by Parliament will now require investors in the foreign exchange sector to have a minimum paid-up share capital of 200 million Shillings to transact the business. While passing the Bill during plenary chaired by Speaker Anita Among on …
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Kampala, Uganda | THE INDEPENDENT | The Ugandan borrowing public will continue enduring a high cost of credit for as long as the current inflation and foreign exchange rates continue skyrocketing, according to the Bank of Uganda. This is in response to calls by the private sector, especially the manufacturers, that …
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New York, U.S. | Xinhua | The U.S. dollar gained ground in late trading on Monday amid heightened demand for safe haven. The dollar index, which measures the greenback against six major peers, grew 0.28 percent to 95.9100. “The U.S. Dollar is stronger this morning as markets tumble ahead of a …
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Frankfurt, Germany | Xinhua | The euro, a currency shared by 19 European countries, has won overwhelming support among the 340 million Europeans since it went into circulation 20 years ago. The idea of a single currency for Europe, which originated in 1970 when policy makers in Europe hoped to achieve …
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By Julius Businge The Uganda Shilling is forecast to stabilise as the high US dollar demand from importers, which sent the local currency tumbling to a 13-month low in recent days, starts to recede, according to Dickson Magecha, the Forex Trader at Standard Chartered Bank Magecha said at the end …
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By Julius Businge The Uganda shilling tumbled 2.2% against the dollar touching 2670/80 in the week ending Nov. 23 from the previous close of 2605/15. The central bank intervened in the early morning session on Friday-Nov. 23 to halt the slide as demand for dollar surged. Denis Mashanyu, the forex trader …
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By Julius Businge The Ugandan shilling fell against foreign currencies notably the dollar on Wednesday, dealers said. Commercial banks quoted the currency of Africa’s largest coffee exporter at 2,587/2,597, weaker than Tuesday’s close of 2,575/2,585. “There is some depreciation of the local currency as a result of better liquidity conditions …
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