Shilling unwavering

Jul 10, 2005

THE shilling held steady against the dollar closing unchanged from the previous week on low corporate demand, dealers said on Friday.

By Paul Busharizi

THE shilling held steady against the dollar closing unchanged from the previous week on low corporate demand, dealers said on Friday.

The shilling closed last week at 1,735/45 to the dollar.

“The dollar was pretty stable during the week. Corporate dollar demand was weak although we saw some demand from government departments,” dfcu’s chief dealer, David Bagambe said.
“Some supply was seen
from NGOs and Bank of

Uganda’s sterilisation operations,” he said.

A market sentiment is for a return of the corporate dollar demand this week and a correspondent weakening of the shilling.

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