As of Sunday, January 7th, 2024, the Uganda Shilling (UGX) stands at the crossroads, interacting with various international currencies in a stable manner. Let’s take a closer look at the current exchange rates for the Uganda Shilling against several key currencies:
| Country | Exchange Rate (UGX) |
|---|---|
| South Africa | 201.79 |
| United Kingdom | 4805.04 |
| DR Congo | 1.39 |
| Tanzania | 1.51 |
| United Arab Emirates | 1034.07 |
| Rwanda | 2.93 |
| Kenya | 24.2 |
| Nigeria | 4.28 |
| China | 529.76 |
| United States | 3797.61 |
| South Sudan | 3.48 |
| Euro | 4144.68 |
The exchange rates provide a snapshot of Uganda’s economic relationships with diverse nations, spanning the African continent and reaching out to global economic powerhouses. Let’s delve into the implications of these rates on Uganda’s trade and economic dynamics.
South Africa (ZAR): A Close Neighbor with Diverging Paths
At 201.79 UGX to 1 South African Rand, Uganda and South Africa find themselves connected geographically but economically divergent. This exchange rate showcases the intricacies of bilateral trade between the two nations, reflecting both challenges and opportunities.
United Kingdom (GBP): Pound Sterling’s Commanding Presence
The United Kingdom commands a substantial exchange rate of 4805.04 UGX to 1 British Pound. This commanding figure illustrates the economic strength of the Pound Sterling, influencing Uganda’s trade relationships and potentially impacting the cost of imports and exports.
DR Congo (CDF): Proximity Reflected in Exchange Rates
With an exchange rate of 1.39 UGX to 1 Congolese Franc, the Democratic Republic of Congo and Uganda maintain a close economic relationship. Proximity plays a significant role in shaping this exchange rate, emphasizing the importance of cross-border economic collaborations.
Tanzania (TZS): Neighbors in Economic Harmony
At 1.51 UGX to 1 Tanzanian Shilling, Uganda and Tanzania exhibit a harmonious economic relationship. This exchange rate reflects the collaborative efforts between these East African neighbors, fostering a climate of mutual economic benefit.
United Arab Emirates (AED): The Influence of Oil-Rich Economies
With an exchange rate of 1034.07 UGX to 1 United Arab Emirates Dirham, the economic influence of oil-rich nations extends to Uganda. This rate highlights the impact of global oil prices and economic ties between Uganda and the wealthy Middle Eastern nation.
Rwanda (RWF): A Tale of Integration
At 2.93 UGX to 1 Rwandan Franc, the exchange rate between Uganda and Rwanda reflects the deepening economic integration within the East African Community. This rate signifies not only economic ties but also the broader narrative of regional collaboration.
Kenya (KES): Economic Partnerships in the East African Bloc
The exchange rate of 24.2 UGX to 1 Kenyan Shilling emphasizes the strong economic partnerships within the East African Community. This rate reflects the interconnectedness of the region’s economies, with Kenya standing out as a key trading partner for Uganda.
Nigeria (NGN): West African Connections
With an exchange rate of 4.28 UGX to 1 Nigerian Naira, Uganda’s economic ties reach into West Africa. This rate reflects the economic connections and potential trade opportunities between Uganda and Nigeria.
China (CNY): The Dragon’s Impact
China’s economic influence is evident in the exchange rate of 529.76 UGX to 1 Chinese Yuan. This figure showcases the impact of China’s global economic presence on Uganda’s trade relationships and economic dynamics.
United States (USD): Dollar Dominance
At 3797.61 UGX to 1 US Dollar, the dominance of the United States Dollar in global trade is evident. This exchange rate reflects the far-reaching influence of the U.S. economy on Uganda’s trade and financial stability.
South Sudan (SSP): Economic Ties Amidst Challenges
With an exchange rate of 3.48 UGX to 1 South Sudanese Pound, Uganda’s economic ties with its neighbor to the north are underscored. This exchange rate reflects both the economic collaboration and the challenges faced in the region.
Euro (EUR): European Union’s Economic Impact
At 4144.68 UGX to 1 Euro, the economic impact of the European Union is apparent. This exchange rate highlights the significance of Uganda’s economic ties with the EU, influencing trade dynamics and economic stability.
