Uganda shilling remains stable
Oct 09, 2005
RELATIVE inactivity on the dollar demand side and month-end inflows prolonged the shilling’s stability for a third week, dealers said on Friday.
By Paul Busharizi
RELATIVE inactivity on the dollar demand side and month-end inflows prolonged the shilling’s stability for a third week, dealers said on Friday.
The shilling was trading at 1,855/70 to the dollar on Friday from the previous week’s 1,855/62 close.
“This was supported by month-end dollar inflows and subdued corporate demand from buying corporates,†Stanbic’s treasury sales manager Henry Kamuntu said.
“We expect this range to hold,†StanChart’s Joram Ssozi said.
Dealers reported buying resistance at sh1,870 to the dollar with most demand at sh1,860.
Ends
RELATIVE inactivity on the dollar demand side and month-end inflows prolonged the shilling’s stability for a third week, dealers said on Friday.
The shilling was trading at 1,855/70 to the dollar on Friday from the previous week’s 1,855/62 close.
“This was supported by month-end dollar inflows and subdued corporate demand from buying corporates,†Stanbic’s treasury sales manager Henry Kamuntu said.
“We expect this range to hold,†StanChart’s Joram Ssozi said.
Dealers reported buying resistance at sh1,870 to the dollar with most demand at sh1,860.
Ends