A collection of various US dollar bills and international currency notes displayed together.
Uganda’s foreign exchange reserves increased by 56% in the year through June 2026, climbing to $6.7 billion from $4.3 billion a year earlier. The reserves now cover approximately 3.7 months of projected imports. While the increase is positive, it remains below the central bank’s target of four months. To diversify its holdings and reduce dependence on conventional reserve assets, the bank plans to continue purchasing gold during the 2026–27 fiscal year. The stronger buffer could help cushion the Ugandan shilling, which has slid sharply in recent weeks and set a series of record lows. However, the central bank said it does not intend to defend a specific exchange rate, preferring instead to limit excessive market volatility.