Facebook’s Libra Must Be Stopped

NEW YORK – Facebook has just unveiled its latest bid for world domination: Libra, a cryptocurrency designed to function as private money anywhere on the planet. In preparing the venture, Facebook CEO Mark Zuckerberg has been in negotiations with central banks, regulators, and 27 partner companies, each of which will contribute at least $10 million. […]

America’s Unusual Recovery is Now Also its Longest

LONDON – Data released over the next few months will show that the current US economic expansion is the longest on record. But while the United States continues to outperform other advanced economies, this success has yet to dispel many Americans’ persistent sense of economic insecurity and frustration; nor does it alleviate concerns about the […]

The US Economy’s Dirty Secret

SAN DIEGO – There is a dirty little secret in economics today: the United States has benefited – and continues to benefit – from the global slump. The US economy is humming along, even while protesters in the United Kingdom hurl milkshakes at Brexiteers, French President Emmanuel Macron confronts nihilist yellow-vested marchers, and Chinese tech firms such as Huawei […]

The Dangerous Absurdity of America’s Trade Wars

NEW YORK – Don Quixote fought windmills. US President Donald Trump fights trade deficits. Both battles are absurd, but at least Quixote’s was tinged with idealism. Trump’s is drenched in enraged ignorance. Last week, it was announced that the US international deficit on goods and services had widened to $621 billion, despite Trump’s promise that tough trade […]

Why Economics Must Get Broader Before It Gets Better

NEW YORK – The economics profession took a beating after most of its leading practitioners failed to predict the 2008 global financial crisis, and it has been struggling to recover ever since. Not only were the years following the crash marked by unusually low, unequal growth; now we are witnessing a growing list of economic […]

Shilling ends trading unchanged from previous close

The shilling traded sideways against its American counterpart, though ending the day unchanged from previous close. Lack of economic news left most of the players sidelined with price action for the USD-UGX pair guided mostly by flows. Corporate dollar demand remained well matched by foreign currency inflows from various sectors of the economy throughout the […]

Risky Retirement Business

CAMBRIDGE – The challenges posed by an aging population are manifold, and they are neither new nor unique. The populations of Italy and Japan have been declining for some time, and in the United States, numerous state governments’ large unfunded pension liabilities are a chronic problem. While low interest rates in most advanced economies have […]

Local unit continues to trade firmly against US counterpart

The Uganda shilling continued to trade firmly against the dollar clinging onto previous gains. The domestic unit showed strength against its U.S. counterpart amid tight liquidity conditions. Dollar appetite from corporate and interbank players remained fairly low throughout the day to allow the home unit close with its right foot forward. We expect the USDUGX […]

Uganda shilling maintains upward trend against US dollar

The Uganda shilling maintained an upward trend against its foreign counterpart in yesterday’s session locking 10 shillings by the days close. Increased dollar inflows from various sectors of the economy amid ebbing greenback demand gave the local currency a boost leading to a stronger close. We see the USD/UGX pair trading within the familiar ranges […]

Uptick in dollar demand lifts Shilling against US counterpart

The Uganda shilling eased against its foreign counterpart on Wednesday amid an uptick in greenback demand from interbank players. The local unit was constrained within the 3660/3680 band in the morning, when emergency dollar buyers’ swarm into market later in the day pushing the shilling to close higher at the 3665/3685 levels weaker than previous […]

Shilling trades stronger against US dollar

The Uganda shilling traded stronger against the U.S dollar on Tuesday with the USD/UGX pair plunging to the 3660/3680 levels. The home unit was boosted to a day’s win as interbank players trimmed long dollar positions amidst low appetite for hard currency from the corporate sector and tight liquidity in the money market arena. A […]

Shilling trades stronger than US dollar

The Uganda shilling traded stronger against the U.S dollar on Wednesday with the USD/UGX pair plunging to the 3710/3730 levels from 3725/3745 range on Tuesday. The home unit was boosted to a day’s win as interbank players trimmed long dollar positions amidst low appetite for hard currency from the corporate sector and skewed liquidity in […]

Shilling remains strong against US Dollar

KAMPALA – The Uganda Shilling remained unchanged at the 3725/3745 levels against the U.S. dollar on Wednesday supported by even flows on both demand and supply counters. There was a slight uptick in activity on the local FX market with dollar buyers emerging late in the session, but the early morning greenback inflows proved enough […]