{"id":31333,"date":"2022-05-22T18:11:27","date_gmt":"2022-05-22T18:11:27","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years"},"modified":"2022-05-22T18:19:10","modified_gmt":"2022-05-22T18:19:10","slug":"shilling-loses-against-dollar-for-first-time-in-over-two-years","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years","title":{"rendered":"Shilling loses against dollar for first time in over two years"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>The shilling has between April 2022 to date, depreciated against the dollar by 3 percent, according to Bank of Uganda.<\/p>\n

This is the first time in over two years that the shilling is losing ground against the dollar.<\/p>\n

Speaking in an interview early this week, Dr Adam Mugume, the Bank of Uganda director of research, said, a combination of both internal and external factors fueling the depreciation of the shilling against the dollar, among which include increase in corporate demand for dollars and strengthening of the dollar.<\/p>\n

\u201cThe increase in global commodity prices means that payment for oil and other essential commodities require more dollars. Put differently, the demand for dollars to pay for essential raw materials, most of which are quoted in dollars, has gone up,\u201d he said, noting that Bank of Uganda will continue to monitor the market to ensure stability. Ms Catherine Kijjagulwe, the Absa head of trading, said the shilling had continued to exhibit volatility, opening Wednesday at Shs3,660 per dollar, before closing at Shs3650.<\/p>\n

This, she said, was driven by continued demand, prompting two Central Bank interventions on Wednesday, which relaxed the southward movement yesterday. By yesterday, according to Bank of Uganda, the shilling had marginally gained closing at Shs3,643.13 against the dollar.<\/p>\n

Money markets were liquid on Wednesday with overnight yields at averages of 6.740 percent. Bank of Uganda held a Shs400b two-year and 10-year Treasury Bond auctions and yields cleared at averages of 9.9 percent and 13.75 percent respectively.<\/p>\n

In the Regional Economic Outlook for Sub Saharan African published in April, International Monetary Fund, said the central banks should manage exchange rate adjustment on the back of monetary tightening in the US, which could rise risk premiums exacerbated by the conflict between Russia and Ukraine.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. The shilling has between April 2022 to date, depreciated against the dollar by 3 percent, according to Bank of Uganda. This is the first time in over two years that the shilling is losing ground against the dollar. Speaking in an interview early this week, Dr Adam Mugume, the Bank of Uganda […]<\/p>\n","protected":false},"author":84,"featured_media":31332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3,8],"tags":[233,240,234],"class_list":["post-31333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","category-homepage-english","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nShilling loses against dollar for first time in over two years - Uganda<\/title>\n<meta name=\"description\" content=\"The shilling has between April 2022 to date, depreciated against the dollar by 3 percent, according to Bank of Uganda. ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shilling loses against dollar for first time in over two years\" \/>\n<meta property=\"og:description\" content=\"The shilling has between April 2022 to date, depreciated against the dollar by 3 percent, according to Bank of Uganda. ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-22T18:11:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-22T18:19:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_3-628a7e815ff33.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Shilling loses against dollar for first time in over two years\",\"datePublished\":\"2022-05-22T18:11:27+00:00\",\"dateModified\":\"2022-05-22T18:19:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years\"},\"wordCount\":311,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_3-628a7e815ff33.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"community\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years\",\"name\":\"Shilling loses against dollar for first time in over two years - Uganda\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_3-628a7e815ff33.jpg\",\"datePublished\":\"2022-05-22T18:11:27+00:00\",\"dateModified\":\"2022-05-22T18:19:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The shilling has between April 2022 to date, depreciated against the dollar by 3 percent, according to Bank of Uganda. ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_3-628a7e815ff33.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_3-628a7e815ff33.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Shilling loses against dollar for first time in over two years\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/uganda\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Shilling loses against dollar for first time in over two years\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#website\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/\",\"name\":\"Uganda\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/uganda\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Shilling loses against dollar for first time in over two years - Uganda","description":"The shilling has between April 2022 to date, depreciated against the dollar by 3 percent, according to Bank of Uganda. ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years","og_locale":"en_US","og_type":"article","og_title":"Shilling loses against dollar for first time in over two years","og_description":"The shilling has between April 2022 to date, depreciated against the dollar by 3 percent, according to Bank of Uganda. ...","og_url":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years","og_site_name":"Uganda","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2022-05-22T18:11:27+00:00","article_modified_time":"2022-05-22T18:19:10+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_3-628a7e815ff33.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Shilling loses against dollar for first time in over two years","datePublished":"2022-05-22T18:11:27+00:00","dateModified":"2022-05-22T18:19:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years"},"wordCount":311,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_3-628a7e815ff33.jpg","keywords":["Africa Press","Africa Press-Uganda","uganda"],"articleSection":["all news","community","homepage-english"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years","url":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years","name":"Shilling loses against dollar for first time in over two years - Uganda","isPartOf":{"@id":"https:\/\/www.africa-press.net\/uganda\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_3-628a7e815ff33.jpg","datePublished":"2022-05-22T18:11:27+00:00","dateModified":"2022-05-22T18:19:10+00:00","author":{"@id":"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The shilling has between April 2022 to date, depreciated against the dollar by 3 percent, according to Bank of Uganda. ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#primaryimage","url":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_3-628a7e815ff33.jpg","contentUrl":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_3-628a7e815ff33.jpg","width":1200,"height":800,"caption":"Shilling loses against dollar for first time in over two years"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/shilling-loses-against-dollar-for-first-time-in-over-two-years#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/uganda\/"},{"@type":"ListItem","position":2,"name":"Shilling loses against dollar for first time in over two years"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/uganda\/#website","url":"https:\/\/www.africa-press.net\/uganda\/","name":"Uganda","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/uganda\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/posts\/31333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/comments?post=31333"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/posts\/31333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/media\/31332"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/media?parent=31333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/categories?post=31333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/tags?post=31333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}