Uganda's broad money to total reserves ratio was 3.22 in 2024, the latest year in the World Bank's World Development Indicators. That is up 75.28% from 1.83 in 2014 (5.77% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 3.22 | 2024 |
| Five years earlier | 2.23 | 2019 |
| Ten years earlier | 1.83 | 2014 |
| Highest | 61.24 | 1980 |
| Lowest | 0.96 | 2001 |
| Average since 2015 | 2.22 | 2015–2024 |
| First recorded | 3.46 | 1966 |
What the numbers say
In 2024, Uganda's broad money to total reserves ratio rose 0.53 on 2023 (from 2.68 to 3.22).
Across the 30 yearly changes before that (1994 to 2023), the average change was +0.01 and a typical year strayed about 0.3 from that (the standard deviation). This year's change was 1.7 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 46.32 in 1980 and the biggest yearly fall was 55.54 in 1981. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 0.12 a year. A straight line explains 61% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Uganda had the 15th highest value of the 41 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Uganda in the 2024 ranking
- Liberia — 12th of 41: 3.51
- Iceland — 13th of 41: 3.49
- Sierra Leone — 14th of 41: 3.27
- Mozambique — 16th of 41: 3.17
- Thailand — 17th of 41: 3.15
- Bhutan — 18th of 41: 2.96
What this measures
Broad money is the sum of all liquid financial instruments held by money-holding sectors that are widely accepted in an economy as a medium of exchange, plus those that can be converted into a medium of exchange at short notice at, or close to, their full nominal value. Reserve assets are external assets, including monetary gold, that are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in exchange markets to affect the currency exchange rate, and for other related purposes (such as maintaining confidence in the currency and the economy, and serving as a basis for foreign borrowing). Reserve assets must be denominated and settled in foreign currency. This indicator is expressed as a ratio (a÷b).
All 59 values
| Year | Broad money to total reserves ratio |
|---|---|
| 2024 | 3.22 |
| 2023 | 2.68 |
| 2022 | 2.46 |
| 2021 | 1.87 |
| 2020 | 2.18 |
| 2019 | 2.23 |
| 2018 | 1.98 |
| 2017 | 1.65 |
| 2016 | 1.8 |
| 2015 | 2.1 |
| 2014 |
Broad money to total reserves ratio in nearby economies
- Angola — 1.24 (2025)
- Botswana — 2.46 (2024)
- Burundi — 17 (2023)
- Cabo Verde — 2.29 (2025)
- Cameroon — 2.47 (2018)
- Central African Republic — 2.09 (2022)
- Chad — 12.75 (2021)
- Comoros — 1.6 (2025)
- Congo, Dem. Rep. — 2.99 (2023)
- Congo, Rep. — 6.08 (2023)
- Equatorial Guinea
More financial sector data for Uganda
- Domestic credit to private sector by banks (% of GDP) — 12.55% (2025)
- DEC alternative conversion factor (LCU per US$) — US$3,676 (2025)
- Official exchange rate (LCU per US$, period average) — US$3,603 (2025)
- Monetary sector credit to private sector (% of GDP) — 12.6% (2025)
- Broad money (current LCU) — 50.81 trillion (2025)
- Broad money (% of GDP) — 22.3% (2025)
- Broad money (annual % growth) — 20.04% (2025)
- Net domestic credit (current LCU) — 50.23 trillion (2025)
- Net foreign assets (current LCU) — 18.21 trillion (2025)
- Claims on central government, etc. (% of GDP)
Reading data like this
Questions people ask
- What is Uganda's broad money to total reserves ratio?
- 3.22 in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1966?
- It is down 6.94% from 3.46 in 1966 (0.12% a year on average, compounded). The highest value was 61.24 in 1980 and the lowest 0.96 in 2001.
- How does Uganda rank?
- 15th highest of 41 economies with data for 2024.
- Is the latest change in broad money to total reserves ratio unusual for Uganda?
- In 2024, Uganda's broad money to total reserves ratio rose 0.53 on 2023 (from 2.68 to 3.22). Across the 30 yearly changes before that (1994 to 2023), the average change was +0.01 and a typical year strayed about 0.3 from that (the standard deviation). This year's change was 1.7 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator FM.LBL.BMNY.IR.ZS, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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