Uganda’s currency has weakened further on Thursday, reaching a near-record low against the U.S. dollar amid sustained demand for the greenback. Commercial banks quoted the shilling at 3,925–3,935 per dollar, up from 3,860–3,870 the previous Thursday, pushing it toward the 4,000-per-dollar mark—a level not seen in the currency’s history. Analysts and traders anticipate further depreciation as dollar purchases intensify, driven by both domestic and regional factors.
Uganda shilling weakens to near-record lows amid dollar demand surge
Uganda’s shilling hit a fresh low against the dollar as rising dollar demand from manufacturers and energy firms pushed exchange rates toward 4,000 per USD.
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Sophie Laurent · FX & Rates Desk · 18 Sept 2026 · 13:11 · 1 min read
This article was produced with AI assistance and edited by a Finance Review Daily journalist.
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Written by
Sophie Laurent
FX & Rates Desk
Sophie covers currency markets and central bank policy across Europe, with a focus on how rate decisions ripple through FX pairs. She has been tracking the ECB's policy path since the start of the current easing cycle.
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