URA Forex Rate Stable
THE Uganda Revenue Authority (URA) customs exchange rate will remain stable despite the recent rise of the dollar to sh2000 on the open market.
By David Muwanga
THE Uganda Revenue Authority (URA) customs exchange rate will remain stable despite the recent rise of the dollar to sh2000 on the open market.
Christopher Kaweesa, URA spokesman said on Monday, “Ours is a monthly average exchange rate derived from the past month, we use the average of the daily exchange rates for the past month and use it for the current month.
‘This means that if the exchange rate on the open market rises in month, the URA’s will be lower and when it falls, URA’s rises causing the URA’s exchange rate to remain below the market rate in circumstances where the market rates are persistently raising,†he said in an interview on Monday at his office.
Ends
THE Uganda Revenue Authority (URA) customs exchange rate will remain stable despite the recent rise of the dollar to sh2000 on the open market.
Christopher Kaweesa, URA spokesman said on Monday, “Ours is a monthly average exchange rate derived from the past month, we use the average of the daily exchange rates for the past month and use it for the current month.
‘This means that if the exchange rate on the open market rises in month, the URA’s will be lower and when it falls, URA’s rises causing the URA’s exchange rate to remain below the market rate in circumstances where the market rates are persistently raising,†he said in an interview on Monday at his office.
Ends