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Uganda Shilling - Death Wish
Rank: Chief Joined: 1/3/2007 Posts: 18,099 Location: Nairobi
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Bure Kabisa! I regret putting one red cent into Uganda when I did! Th UGX has dropped from 1,600 to US$ to 2,800 today. The crappiest piece of crap I have ever invested in [except Olympia] Since 1 Jan 2011 the piece of crap has dropped from 2,275 to 2,800 [in 2 weeks from 2,400 to 2,800] and that is against a weakening US$. Against the AUS$ or Gold it gets even worse. Of course, museveni has $750mn to buy fighter jets. I am locked in but I wish I had exited when museveni rigged himself in. Anybody else in deep shit like me? [I could have bought more KK or US$ or Gold or just left the cash under my mattress & been up huge!] Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 1/3/2011 Posts: 129 Location: Nairobi
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Rank: Chief Joined: 1/3/2007 Posts: 18,099 Location: Nairobi
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SAC Cohen wrote:3000 on the cards BTW. Pity, coz I am going to write off a huge sum! I would go in at 3,000 but I am outta $$$ & like KK instead. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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http://www.businessdaily.../-/38quxhz/-/index.html
Something like this will only save the Ugandan shilling from further depreciating. Lets see how this move by IMF will hepl the Kenyan shilling.
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Rank: Elder Joined: 10/13/2009 Posts: 1,950 Location: in kenya
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I think the best thing for you now is to hold, instead of loosing ur money, till the oil dollars start streaming in then you make ur kill. I think apart from speculative attacks on the shilling The exploration and drilling companies are eating all the dollars in that country due to high salaries paid to the expatriates. sample this. Quote:Sunday Vision has learnt that 20 senior employees in Tullow Oil Uganda are paid in hard (foreign) currencies wired directly to their respective bank accounts.
Five managers — Andrew Oliver, Andy Demetriou, Henry De Jager, Hermanus Steyn and Mark Morley — are paid in dollars collectively close to $1,107,587 a year.
Christian Arndt, Cyril Guerin, Heiko Fuchs and Phillipe Bouzet earn their salaries in euros estimated at 409,000 Euros per annum.
The remaining 11 managers are paid in pound sterling and their total annual salaries are about £999,067. This list includes Glover, Mekie, Edward Flett, Feroze Shahid, James McGilvray, Kenneth Berry, Kevin Wilson, Kim Breakwell, Hughes, Roger Charles and Sajjad Gill. I know that is small change but in a country that small I think the dollar is in high demand when you factor in other overheads that these companies pay in hard currencies given that most equipments have to be imported. Tullow will commence a trial production next month Lets hope this will help the shilling. '......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Rank: Member Joined: 9/29/2010 Posts: 679 Location: nairobi
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SAC Cohen wrote:3000 on the cards BTW. MKENYA HUYU!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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BoU should come to CBK for further studies on how not to attempt stem speculators using forex reserves.  
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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This can't be a co incidence the the KES,Ugandan Shilling and Tanzanian Shilling have all weakened against the dollar. There must something that is leading to the weakening of our currency when other worldwide currencies are strengthening against the $$$
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Somebody help me. What is Ug's biggest/largets legal tender i.e. As Kenya is to 1000/=, Zimbabwe is to Z$10,000,000, uganda is to ------? Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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50,000 UGX The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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dunkang wrote:Somebody help me. What is Ug's biggest/largets legal tender i.e. As Kenya is to 1000/=, Zimbabwe is to Z$10,000,000, uganda is to ------? FYI:Zim abandoned the Zim Dollar in '09. The economy now runs on the USD and other majors. The ZSE is now the only African bourse listed in USD.
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Rank: Veteran Joined: 10/25/2007 Posts: 1,574
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dunkang wrote:Somebody help me. What is Ug's biggest/largets legal tender i.e. As Kenya is to 1000/=, Zimbabwe is to Z$10,000,000, uganda is to ------? 50,000 shillings is the largest Ugandan currency note. Set out to correct the world's wrongs and you will most certainly wind up adding to them.
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Rank: New-farer Joined: 6/18/2011 Posts: 13 Location: pwani
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where can i change dollars to uganda sh whats the best rate i can get
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Cde Monomotapa wrote:dunkang wrote:Somebody help me. What is Ug's biggest/largets legal tender i.e. As Kenya is to 1000/=, Zimbabwe is to Z$10,000,000, uganda is to ------? FYI:Zim abandoned the Zim Dollar in '09. The economy now runs on the USD and other majors. The ZSE is now the only African bourse listed in USD. ...and thus Zim's latest inflation for May is @ 2.7% but u'll never hear that side of the story. nkt! media.
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Rank: Chief Joined: 1/3/2007 Posts: 18,099 Location: Nairobi
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jguru wrote:dunkang wrote:Somebody help me. What is Ug's biggest/largets legal tender i.e. As Kenya is to 1000/=, Zimbabwe is to Z$10,000,000, uganda is to ------? 50,000 shillings is the largest Ugandan currency note. Value dropping like a rock thrown from a cliff! As someone said this piece of crap currency is heading to 3,000 vs US$ museveni is another mugabe & it is showing in the currency... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Cde. R.G Mugabe. True revolutionary, Pan-african & may he be life President of Zimbabwe.
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Rank: Elder Joined: 11/27/2007 Posts: 3,604
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FUNKY wrote:This can't be a co incidence the the KES,Ugandan Shilling and Tanzanian Shilling have all weakened against the dollar. There must something that is leading to the weakening of our currency when other worldwide currencies are strengthening against the $$$ i have a strong feeling that it is the kenyaa shilling weakening against the USD and since the regional currencies are pegged to that they follow suit. my two cents. African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Rank: Chief Joined: 1/3/2007 Posts: 18,099 Location: Nairobi
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Sober wrote:FUNKY wrote:This can't be a co incidence the the KES,Ugandan Shilling and Tanzanian Shilling have all weakened against the dollar. There must something that is leading to the weakening of our currency when other worldwide currencies are strengthening against the $$$ i have a strong feeling that it is the kenyaa shilling weakening against the USD and since the regional currencies are pegged to that they follow suit. my two cents. This turd stinks worse than the KES. And it will not flush away. It floats to remind me of the stupid decision I made going into a country where the head pig's heroes are gaddafi & mugabe! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Historically, the Botswana Pula (BwP) experienced similar weakness during the exploration stages of its diamond resource. The reversal to strength of the currency after diamond sales commenced made smart fellows richer. Hence, same story, different cast. UG is no exception. It is more of a patience than a money game perse ~ Respect the game & the game will respect you.
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Cde Monomotapa wrote:Cde. R.G Mugabe. True revolutionary, Pan-african & may he be life President of Zimbabwe. The machinations of the West on this country created a GREAT oppurtunity to accumilate distressed yet quality long-term assets. The race is not for the swift...
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Uganda Shilling - Death Wish
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