Latest / Uganda News Today | 2 Min News | The Daily News Now!
Uganda Shilling Plummets Amid Oil Surge | Uganda News
The Uganda Shilling nosedived past 3,900 to the dollar — its sharpest fall in nearly two years — fueled by soaring global oil prices that drained foreign currency reserves. While recent inflows from mining, energy, remittances, and agri-exports offered some relief, the oil shock dominates. A weaker shilling hikes costs for imports, hitting everyday consumers, while Middle East tensions delay key oil projects, potentially deepening economic ripple effects. The Bank of Uganda’s official rate Friday opened at 3,511/3,521 shillings per dollar — a volatile moment all eyes are watching. Listen in…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.