Uganda shilling appreciates
THE shilling appreciated in the week to Friday on inflows from exports, dealers said.
By Paul Busharizi
THE shilling appreciated in the week to Friday on inflows from exports, forex dealers said.
The shilling was trading at 1,810/20 to the dollar compared to the previous week’s 1,822/32 close.
“The shilling strengthened at the beginning of the week to touch 1,805/10 levels on interbank trading but fell back to weekend levels of 1,810/20 on dollar demand from telecoms and government,†dfcu chief dealer, David Bagambe said.
Market sentiment for this week is mixed but traders agree the shilling will not remain stable.
“The shilling will continue to test both ends of the range 1,805 to 1,830,†said Stanchart’s Joram Ssozi.
THE shilling appreciated in the week to Friday on inflows from exports, forex dealers said.
The shilling was trading at 1,810/20 to the dollar compared to the previous week’s 1,822/32 close.
“The shilling strengthened at the beginning of the week to touch 1,805/10 levels on interbank trading but fell back to weekend levels of 1,810/20 on dollar demand from telecoms and government,†dfcu chief dealer, David Bagambe said.
Market sentiment for this week is mixed but traders agree the shilling will not remain stable.
“The shilling will continue to test both ends of the range 1,805 to 1,830,†said Stanchart’s Joram Ssozi.