Find visitors' favorite businesstravel Hotels And.... Book your best!

Bank Of Uganda sells dollars to save shilling

Friday, 5th August, 2011

The Uganda Central Bank yesterday sold an undisclosed amount of dollars in the foreign exchange market after the shilling slid towards a record low of 2,710 hit on June 30.

The bank said in a notice to the market that it was also offering a seven-day reverse repurchase agreement (repo) for an unspecified amount of money during the session.

“The shilling opened at 2,650/2,660, but weakened sharply to 2,675/2,685, prompting the Central Bank to come in. It is now at 2,665/2,575,” said Faisal Bukenya, the head of market making at Barclays Bank. “With today’s levels, it is clear we are moving back to the record low of 2,710 in June.”

The drop of the shilling was attributed to dollar demand from the energy and manufacturing sectors.



The New Vision Newspaper

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Africa Uganda Currency and Forex News .



Haven't yet found what you Want...?

If you haven't yet found what you were looking for or you need detailed information about the subject matter on this page

then...

feel free to ask our business travel consultants.





Book a Prisons & Correctional
Charity Tour


Farmland for Sale
Prime Commercial Property
Entebbe Rd Land 4 Sale
Over 20 Farmland Parcels
Property & Plots of Land

Uganda Online SuperMarket
africaug.com
Online SuperMarket

Uganda Coffee Safari
Book My Coffee Tour

Uganda Honey
Uganda HoneyComb

Subscribe to our Business Travel Newsletter


Enter Your E-mail Address
Enter Your First Name (optional)
Then

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Africa Uganda Business Travel News Digest.

Hotel Booking

Car RentalCar Hire

Africa Uganda Shipping & Handling ServicesShipping & Handling Services


Our Sponsorship Policy


Apple Guavas available
Africa Uganda Plants GuideAfrica Plants Guide

Charity Investment Guide
Changing Lives

Africa Uganda SMS Guide
Africa Bulk SMS

Poultry Investment Guide
Poultry Business Guide

Related Pages



Uganda Hotels Directory

Uganda Hotels Booking Guide


Houses U can buy Uganda Real Estate Guide Industrial/Farmland Deals

Uganda Real Estates Guide


The Mountain Gorilla

Uganda Safari Guide

Uganda Weather Today





Book My Hotel

Please note that all fields followed by an asterisk must be filled in.
YES
NO
YES
NO

Please enter the word that you see below.

  



Uganda Currency

Ex-guide