And it helped Canadian manufacturing and other non-commodity sectors to increase their exports to the United States. In this way, the impact of falling employment and incomes in our primary sector because of the lower commodity prices was largely offset by greater expansion in these other sectors.
However, I want to stress that we are not indifferent to further exchange rate depreciation and that for the immediate future, curbing such depreciation will be a priority of the Bank of Uganda’s macroeconomic management. BIS central bankers’ speeches  1