Uganda, April 13 -- The Ugandan shilling has seen a rollercoaster ride, with the week's gains quickly giving way to losses as global risk sentiment shifts and oil prices fluctuate.

As of April 11, 2026, the shilling was trading around 3,690-3,698 per US Dollar (USD), having posted its biggest gain in nearly a month just a week ago.

That gain was driven by an influx of dollars from offshore investors who were regaining appetite for riskier assets, but the rally was short-lived.

"While risk-on sentiment has improved somewhat, there is a general sense of caution as the viability of a US-Iran ceasefire remains a matter of concern," said Stephen Kaboyo, a money market expert and CEO of Alpha Capital.

Kaboyo further said that Uganda's energ...