Bank of Uganda buys $900M to strengthen foreign exchange reserves
The Executive Director of the Bank of Uganda, Dr. Adam Mugume, says that the central bank has adequate foreign-denominated assets or foreign exchange reserves to withstand the current global economic shocks. Speaking during the 2025 Stanbic Global Insights Forum in Kampala, he noted that the central bank is consciously monitoring behaviors in the foreign exchange market, adding that since July 2024, the Bank of Uganda has made a net purchase of $900 million to build the foreign exchange reserve. Rachel Nabisubi reports
