Increased earnings from commodity exports have helped Uganda to record a surplus on its balance of payments of Ush790 billion ($222 million) in the quarter first quarter of the year ending February 2017. Bank of Uganda said the surplus helped to boost the country’s foreign exchange reserves by a considerable margin.
The Central Bank's monetary policy report released last week, puts the total stock of Uganda’s foreign exchange reserves at Ush11 trillion ($3.17 billion), an equivalent to 4.3 months of future imports of goods and services.
