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Uganda's central bank starts domestic gold purchase program
By Elias Biryabarema
Reuters
Tuesday, April 21, 2026
KAMPALA, Uganda -- Uganda's central bank said today it had begun purchasing gold from domestic producers under a program announced two years ago to incorporate bullion as part of the country's foreign reserves.
The first purchase was made on Friday, the Bank of Uganda said in an emailed statement to Reuters, without sharing details on the value of the gold purchased.
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"The program aims to build and diversify Uganda's foreign exchange reserves portfolio by purchasing and processing domestically mined gold and including it in the foreign exchange reserves," the bank said in the statement. "This will strengthen reserve adequacy and reduce risks associated with conventional reserve instruments." ...
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