Daily Monitor
Tuesday May 04 2021
The BoU explains in its report that the appreciation was mainly driven by inflows from Offshores, NGOs, Coffee export receipts and Non-financial institutions amidst demand from Oil, manufacturing and telecom sectors. Photo | File
Summary
On a trade-weighted basis, the nominal effective exchange rate (NEER) appreciated by 2.1 per cent month-on-month and by 3.6 per cent year-on-year in March 2021.
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Uganda Shilling has remained relatively stable with a bias towards appreciation in February and March 2021 due to increased inflows of the US dollar in the period under review by the Bank of Uganda (BoU).
In the new monetary policy report of April 2021 yesterday, the BoU says the shilling appreciated by 2.9 per cent year-on-year and 0.1 per cent month-on-month to a mid-rate of Shs3662.9 per a US Dollar in March 2021, compared to an appreciation of 0.3 per cent year-on-year and 0.7 per cent month-on-month in February 2021.
THE STANDARD
MONEY & CAREERS
By Reuters | April 12th 2021
The dollar gained ground on Monday after last week’s drop as traders assessed the outlook for Treasury yields, while awaiting crucial U.S. inflation and retail sales data in coming days.
Elsewhere it was a quiet start to a data-heavy week for foreign exchange markets.
The euro dipped back below $1.19 while the British pound briefly fell to a two-month low, with some analysts citing blood clot concerns around AstraZeneca’s COVID-19 vaccine, which the UK has relied heavily on for its aggressive vaccination programme.
The dollar’s fortunes have been tied to the performance of Treasury yields for most of 2021, after concerns about rising inflation in the United States and a stimulus-fuelled economic rebound triggered a significant jump in yields on U.S. government bonds in February.
Daily Monitor
Tuesday March 16 2021
The half year 2020/21 macroeconomic and fiscal performance of Uganda economy report by the Ministry of Finance, Planning and Economic Development reveals that the Ugandan currency appreciated against the dollar by 1.2 percent to a period average exchange rate of Uganda Shilling 3,696 per US dollar in Half 1 (six months) of 2020/21
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The half year 2020/21 macroeconomic and fiscal performance of Uganda economy report by the Ministry of Finance, Planning and Economic Development reveals that the Ugandan currency appreciated against the dollar by 1.2 percent to a period average exchange rate of Uganda Shilling 3,696 per US dollar in Half 1 (six months) of 2020/21.
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