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(USD:UGX) Uganda Shilling Turns Worst Currency as Investors Sour on Local Debt

Bloomberg Markets Monday 12 October 2026, 14:02 UTC By Ray Ndlovu 1 min read
Key Points

Uganda Shilling Slips to 33 Year-Low as Foreigners Sour on Local Bonds Uganda’s shilling is bearing the brunt of rising US yields and foreign-investor selling as offshore holders trim their exposure to local-currency bonds. The shilling plunged to 4,143 per dollar as at 4:56 p.m. in Kampala, its weakest level since at least 1993, when Bloomberg began tracking the currency. The drop took its decline since a selloff in US Treasuries began on Aug. 25 to more than 10%, the steepest among 144...

Uganda Shilling Slips to 33 Year-Low as Foreigners Sour on Local Bonds Uganda’s shilling is bearing the brunt of rising US yields and foreign-investor selling as offshore holders trim their exposure to local-currency bonds. The shilling plunged to 4,143 per dollar as at 4:56 p.m. in Kampala, its weakest level since at least 1993, when Bloomberg began tracking the currency. The drop took its decline since a selloff in US Treasuries began on Aug. 25 to more than 10%, the steepest among 144 currencies tracked by Bloomberg.
UGX (ORG) Uganda (LOCATION) US (LOCATION) Kampala (LOCATION) Bloomberg (ORG) US Treasuries (ORG)
Originally published by Bloomberg Markets Read original →

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