News Uganda Banks: Uganda’s foreign reserves drop sharply
Uganda’s foreign exchange reserves held by the Central Bank dropped sharply by about 20% last year, according to data from the Bank of Uganda (BOU).As the shilling’s value deteriorated, BOU’s scope to build its reserves through foreign currency purchases on the market narrowed, leaving loan disbursements and income as the central bank’s main sources of foreign exchange.Data from BOU shows that Uganda’s gross foreign exchange reserves declined...
News Uganda Banks: Uganda's central bank maintains benchmark rate at 10%
BUSINESS ;| ;CENTRAL ;| ;BANKKAMPALA - ;The Bank of Uganda (BoU), Uganda's central bank, on Monday left the Central Bank Rate (CBR) at 10 percent for the second time, saying it is still effective to control the rise in inflation, bring stability in lending rate, exchange rate and drive economic growth.The BoU in its monetary policy statement for February said based on the uncertainty surrounding the economic outlook, the current CBR would...
News Uganda Banks: Uganda holds key rate, sees inflation hitting target by year-end
Uganda's central bank held its key lending rate at 10 percent on Monday, saying it expected inflation would slow to hit its target by the end of the year despite a pick-up in January that it thought ...
News Uganda Banks: Central Bank keeps lending rate at 10%
The Bank of Uganda (BoU) yesterday left the Central Bank Rate (CBR) at 10 percent for the second time, saying it is still effective enough to control the rise in inflation, bring stability to the ...
News Uganda Banks: MTN Mobile Money Uganda, NCBA Bank Launch MoMo Advance
MTN Mobile Money Uganda in partnership with NCBA Bank Uganda, have launched a new MTN mobile money overdraft service dubbed MoMoAdvance.
News Uganda Banks: Central Bank calls for better planning, accountability for emergencies
The Deputy Governor Bank of Uganda, Michael Atingi-Ego has called for better planning for emergencies so that pandemics can have minimal impact. Atingi-Ego noted the need for reduction in spending on ...
News Uganda Banks: Uganda lowers bank cheque limits to boost e-transactions
The Bank of Uganda is seeking to drum up further usage of electronic and digital payments instead of cheque payments for both local currency and foreign currency transactions.
