Exchange Rate In Uganda Today

Understanding the current exchange rate in Uganda is essential for travelers, investors, businesses, and remittance senders alike. As of today, the Ugandan shilling (UGX) is valued at approximately 3,580 to 3,590 shillings per 1 US dollar. This mid-market rate provides a reliable benchmark when converting currencies or analyzing trends that affect Uganda’s economy and global trade.

Current USD to UGX Rate

Key Exchange Rate Figures

According to several updated financial sources, including XE and Wise, the exchange rate today is:

• 1 USD ≈ 3,583.6 UGX
• 1 UGX ≈ 0.00028 USD

This rate reflects the mid-market value, which serves as a reference point. Actual retail rates may differ slightly due to bank fees, transfer charges, and market spreads.

Commercial Bank Quotes

Reuters reports that commercial banks in Uganda are quoting the shilling at around 3,578-3,588 UGX per US dollar

Factors Affecting Today’s Exchange Rate

Import Demand

Reduced import activity due to weak consumer spending has eased pressure on Uganda’s foreign exchange market, helping maintain a stable shilling

Foreign Currency Inflows

Inflows from exports, remittances, and tourism contribute to liquidity in foreign exchange, supporting the UGX. Any changes in global commodity prices or external demand also impact the rate.

Central Bank Intervention

The Bank of Uganda occasionally intervenes by selling or buying dollars to smooth out excessive volatility and protect foreign reserves – a practice found effective in many emerging-market economies.

How the Rate Impacts Daily Life

For Travelers

Visitors from the US should expect to receive between 3,570 and 3,590 UGX for every USD exchanged at banks or Forex bureaus in Kampala and other cities. It’s advisable to compare rates to get the best deal.

For Importers and Exporters

A stable exchange rate aids in predictable pricing for import contracts and export earnings. However, significant fluctuations can affect profit margins and trade competitiveness.

For Remittance Recipients

Ugandans receiving money from abroad will see a clear direct link between the dollar value sent and the local shilling amount received. A stronger USD/UGX rate means more shillings per dollar – a benefit for recipients.

For Investors

Currency stability promotes investor confidence in Uganda’s economic outlook. However, rising global interest rates or geopolitical risks could increase volatility and shift foreign capital flows.

Track the Rate Effectively

• Use reliable financial portals like XE, Wise, and Reuters for real-time rates.
• Check commercial bank websites or in-person Forex bureau listings for the actual retail rate.
• Follow updates from the Bank of Uganda to monitor policy moves or currency interventions.

Historical Perspective

Recent Past Performance

Over the past 90 days, the UGX has fluctuated modestly within a range of approximately 3,570 to 3,600 UGX per USD. Recent stability reflects steady foreign exchange inflows and anchored inflation

Long-Term Trends

Over multiple years, the shilling tends to depreciate gradually due to inflation differentials, growing demand for imports, and periodic currency pressures. Yet, policy interventions and market stability mechanisms keep the weekly volatility relatively low.

Getting the Best Exchange Rate

Compare Multiple Sources

Retail rates offered by banks and Forex bureaus can vary. Take a moment to compare rates between institutions to avoid unnecessary costs.

Consider Transfer Fees

For those sending or receiving money internationally, factor in transfer fees, service charges, and net exchange rates these can significantly affect the overall amount received.

Use Mid-Market Rates as Benchmarks

Mid-market rates from providers like XE or Wise are useful reference points. A good retail rate is typically close to these figures, with minimal markup.

Outlook for the UGX

Forecasts for Stability

Analysts anticipate modest appreciation in the UGX due to subdued import demand and potentially higher export revenues

Risks to Monitor

• Sudden changes in global commodity prices affecting export receipts
• Political or macroeconomic policy shifts in Uganda
• External shocks such as global interest rate hikes or regional instability

Today’s exchange rate of approximately 3,580-3,590 UGX per USD offers a reliable snapshot for anyone needing to convert currencies or evaluate Uganda’s foreign exchange landscape. Supported by steady policy, moderate inflation, and balanced trade flows, the shilling remains stable. Still, stakeholders should monitor central bank actions, global trends, and local consumption patterns that may influence future rates. Whether you are sending money, buying imports, or planning travel, staying informed helps you make decisions with confidence.