Same oil, pricier fuel. In Kampala, petrol is near Shs7,000 a litre, and part of that rise comes from the shilling itself, not oil. ⛽🧵
🔑 The one idea: your currency is hidden inside every imported price
Uganda buys fuel abroad, in dollars. When the shilling weakens, each cargo costs more shillings, even if oil doesn't move.
📊 The numbers
• The shilling went from ~Shs3,790 per dollar in early September to ~Shs4,035 on Oct 5, a record low (Energy Minister to Parliament, Daily Monitor).
• That alone adds ~Shs300 per litre. A Shs200 tax rise since July did more.
• Not only Uganda: the World Bank's October Africa update says the Ghana cedi fell nearly 10% vs the dollar from March to June, the biggest drop of 22 currencies tracked.
📖 Plain words
• Depreciation: your money buys fewer dollars.
• Stablecoin: a token built to stay at $1, like $USDT. A digital dollar.
👩🏾🌾 What it changes for you
Nakato sells matooke in Kampala. In early September, Shs100,000 was ~$26.40. Kept in dollars, by Oct 5 it was worth ~Shs106,000. Kept in shillings, still Shs100,000, while transport got pricier.
⚖️ Nuance
• Digital dollars don't make fuel cheaper. They only protect savings from a falling currency.
• If the shilling recovers, dollar savings lose value in shillings.
• P2P spreads and fees can eat 1-3%, and a stablecoin is only as safe as its issuer and platform.
• Keep daily money (rent, school, stock) local.
✅ 3 habits, no smartphone needed
1. Write the dollar rate in a notebook each week.
2. Note fuel, rice and transport prices next to it.
3. Only move money you won't need soon, after learning the risks.
Has your currency moved your prices this year? Your country + what got pricier 👇
Not financial advice. $BTC ~$82.5K today.
#Stablecoins #Africa #CryptoNews
🔑 The one idea: your currency is hidden inside every imported price
Uganda buys fuel abroad, in dollars. When the shilling weakens, each cargo costs more shillings, even if oil doesn't move.
📊 The numbers
• The shilling went from ~Shs3,790 per dollar in early September to ~Shs4,035 on Oct 5, a record low (Energy Minister to Parliament, Daily Monitor).
• That alone adds ~Shs300 per litre. A Shs200 tax rise since July did more.
• Not only Uganda: the World Bank's October Africa update says the Ghana cedi fell nearly 10% vs the dollar from March to June, the biggest drop of 22 currencies tracked.
📖 Plain words
• Depreciation: your money buys fewer dollars.
• Stablecoin: a token built to stay at $1, like $USDT. A digital dollar.
👩🏾🌾 What it changes for you
Nakato sells matooke in Kampala. In early September, Shs100,000 was ~$26.40. Kept in dollars, by Oct 5 it was worth ~Shs106,000. Kept in shillings, still Shs100,000, while transport got pricier.
⚖️ Nuance
• Digital dollars don't make fuel cheaper. They only protect savings from a falling currency.
• If the shilling recovers, dollar savings lose value in shillings.
• P2P spreads and fees can eat 1-3%, and a stablecoin is only as safe as its issuer and platform.
• Keep daily money (rent, school, stock) local.
✅ 3 habits, no smartphone needed
1. Write the dollar rate in a notebook each week.
2. Note fuel, rice and transport prices next to it.
3. Only move money you won't need soon, after learning the risks.
Has your currency moved your prices this year? Your country + what got pricier 👇
Not financial advice. $BTC ~$82.5K today.
#Stablecoins #Africa #CryptoNews