
According to the Performance of the economy monthly report for March 2024,the Ugandan shilling traded at an average mid-rate of Shs 3,895.8/USD in March 2024 from Shs 3,873.6/USD in February 2024,and thus a depreciation of 0.6%. This is a slowdown from the depreciation of 1.8% that was registered from February 2024,implying that the temporary shock the shilling experienced between January 2024 and February 2024 due to some portifolio investors opting to exit the Ugandan market for Kenya where the yields were higher has started to abate. In the external sector,Uganda's export earnings during February 2024 increased by 12.0% to USD 633.00 million from USD 565.40 million in January,2024. This increase was mainly due to higher earnings from non-coffee formal exports such as gold,cotton,simsim,flowers & oil re-exports.



















