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The Ugandan shilling and Egyptian pound were Africa’s weakest performers among 17 tracked currencies in October, depreciating 8.74% and 6.90% against the US dollar, respectively. The Egyptian pound fell from 52.16 per dollar on October 1 to 56.03 on October 31 amid dollar demand, capital outflows and other external and domestic pressures; the central bank raised benchmark rates by 100 basis points.
Currency depreciation raises the local-currency cost of imported feed ingredients and other commodities, potentially increasing buyers’ landed costs in Egypt and Uganda. The article does not specify commodity flows or a direct global price effect.
businessday.ngFaith OmoboyeNov 6, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
