The Bank of Uganda has published the Uganda Foreign Exchange Swap Curve for the first time, establishing a daily benchmark for the implied cost of United States dollar funding against the Ugandan shilling. The curve is intended to improve pricing transparency, transaction valuation and price discovery for banks, businesses, investors, policymakers and other market participants. Derived from quotations submitted by commercial banks each business day, the curve covers overnight, one-week, two-week, one-month, three-month, six-month, nine-month and one-year maturities. It will be published through the Daily Money Market Report and can support the pricing of foreign exchange swaps, valuation of financial positions, risk management and market analysis. Actual transaction prices may differ based on market conditions, liquidity and commercial factors. The Bank developed the benchmark with commercial banks and the London Stock Exchange Group. A pilot exercise tested whether banks could provide reliable quotations consistently across the covered maturities.

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