We are complementing this by raising interest rates in the interbank market and on repo instruments. Of course open market exchange rates are difficult to control and no central bank can guarantee to move the exchange rate in the direction it wants.
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