Uganda's foreign exchange reserves rose 56% year on year to 6.7 billion dollars at the end of June 2026, according to the Bank of Uganda's annual report 2025-2026, released publicly on Monday 12 October.
Reserves stood at 4.3 billion dollars a year earlier. The new level covers 3.7 months of upcoming imports, against a four-month target set by the central bank, which leaves a gap still to be rebuilt despite the sharp increase.
The Bank of Uganda also plans to continue, during the 2026-2027 financial year, its recently launched gold-purchase programme on the domestic market to diversify reserve assets. The report does not specify the volume or value of the planned purchases.
A larger foreign currency cushion can help the central bank absorb external shocks and limit disorderly market tensions. The Ugandan shilling, however, has continued to weaken in recent weeks and has hit several record lows.
The institution says it does not defend a specific exchange rate level. Its intervention aims to smooth market volatility, meaning the rise in reserves does not amount to a commitment to fix the shilling's rate.