Here is a breakdown of the exchange rates in our daily update on Wednesday, January 17, 2024.
Table: Exchange Rates for Uganda Shillings – Wednesday 17th January 2024
| Country | Exchange Rate (UGX) |
|---|---|
| China | 528.35 |
| South Africa | 201.94 |
| Tanzania | 1.51 |
| South Sudan | 3.47 |
| Kenya | 23.85 |
| DR Congo | 1.38 |
| Rwanda | 2.92 |
| United Arab Emirates | 1036.3 |
| United States | 3805.8 |
| Nigeria | 4.25 |
| Euro | 4145.97 |
| United Kingdom | 4818.69 |
The exchange rate with China, a major trading partner for Uganda, is closely watched, as it can impact the cost of imports and exports between the two nations. A lower exchange rate with China could potentially boost Uganda’s exports to the Chinese market.
The rates against neighboring countries, such as Kenya, Tanzania, and South Sudan, also play a significant role in shaping regional economic dynamics. Stability in these rates promotes economic cooperation and trade within East Africa.
The United Arab Emirates, the United States, and the Eurozone are major players in the global economy, and their exchange rates with the Uganda Shilling have broader implications. Fluctuations in these rates can impact Uganda’s ability to conduct international transactions and manage its external debt.
Exchange rates are critical benchmarks that reflect the economic relationships between Uganda and other nations. The data presented here on January 17, 2024, serves as a snapshot of the economic landscape, guiding policymakers, investors, and businesses in making informed decisions.
