{
  "id": 10393689,
  "title": "Uganda: BOU - Stronger Exports Key to Long-Term Shilling Stability",
  "url": "https://urgent.news/2026/09/28/uganda-bou-stronger-exports-key-to-long-term-shilling-stability",
  "topic": "world",
  "section": "World",
  "published": "2026-09-28T07:39:18.000Z",
  "source": {
    "name": "AllAfrica",
    "slug": "allafrica",
    "url": "https://allafrica.com/stories/202609280054.html"
  },
  "original_language": "en",
  "account": "The Bank of Uganda's Deputy Governor, Prof. Augustus Nuwagaba, has emphasized that boosting export earnings is crucial for ensuring long-term stability of the Ugandan shilling and increasing foreign exchange inflows. In an interview with the Nile Post, Nuwagaba noted that while the shilling has remained stable in July, trading at an average of Shs3,704 against the US dollar, the central bank's ability to support exchange rate stability in the long run largely depends on the country's export performance. The shilling has faced pressure in recent weeks, weakening against the US dollar compared to its position at the end of August, according to market reports. To address this, Nuwagaba stressed the need for Uganda to scale up exports of key commodities like coffee, milk, and cocoa while prioritizing value addition to increase foreign exchange earnings. He also highlighted the scarcity of US dollars in the market, which puts pressure on the local currency. Nuwagaba further underscored the importance of increasing access to credit for the private sector, as limited domestic savings contribute to the country's shallow financial depth and constrain lending. The Bank of Uganda has been supporting initiatives to expand access to affordable financing for productive sectors through schemes like the Agricultural Credit Facility and the Small Business Fund, and the INVITE project. These efforts aim to strengthen domestic financing for businesses and support economic growth in Uganda.",
  "summary": "[Nile Post] Bank of Uganda Deputy Governor Prof. Augustus Nuwagaba says Uganda must increase its export earnings to support long-term stability of the shilling and strengthen foreign exchange inflows.",
  "key_points": [
    "Boosting export earnings crucial for long-term shilling stability, says BOU Deputy Governor",
    "Shilling stable in July at average Shs3,704 against US dollar, but pressure mounting",
    "Scaling up exports of coffee, milk, cocoa and expanding credit access key initiatives"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}