Fellow Ugandans, I congratulate you all, upon the completion of the year 2011 and wish you a prosperous 2012. I wish to convey my sympathies to all who have experienced losses and misfortunes during the course of the year. We thank God for all the successes we have had as individuals and as a Nation. I congratulate […]
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 meeting held between the minister of Trade and Industry Ameria Kyambadde and kampala City Traders Association top executive has ended with both sides failing to reach a final conclusion geared at seeing off the traders’ planned demonstration. KACITA Everest Kayondo confirmed to reporters that their planned demonstration is 100% still on since no mutual understanding has been reached upon with […]
Traders in Kampala have announced a massive sit down strike starting Wednesday and Thursday next week that will see the whole business community in the country keep home for those two days as a way for drawing the government’s attention to address their needs. In a meeting held on Friday between the traders and their […]
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 […]
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 […]