In a bid to support its foreign reserves and addressing associated risks in the international financial markets, Central Bank of Uganda will start purchasing locally-produced gold.  

To complement existing measures to accumulate international reserves, imports of raw gold are expected to reduce, contributing to the reduction in total imports, in turn leading to decrease in booth trade deficit and current account deficit.

By purchasing gold directly from the artisanal miners, BOU will also be supporting the livelihoods of artisanal and small-scale miners. It also aims at mitigating the declining foreign currency reserves and addressing the associated risks in the international financial markets