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

ad. Buy/Import/Export Premium Grade Uganda Vanilla Beans  

Uganda Shilling remains weak against foreign currencies -27-Sept-2011

Tuesday, 27th September, 2011

KAMPALA-The shilling slipped against the dollar on Monday, undermined by end-of-month greenback demand and the euro zone’s continuing debt woes.

Traders said the local currency would likely breach the key level of 2,900 again this week. Last week, the shilling recorded new lows before the Central Bank sold dollars to claw back some of its losses.
The shilling traded at an all-time record low of 2,901 last Friday.

Commercial banks in Kampala quoted the unit at 2,875/2,880, slightly weaker than Friday’s close of 2,860/2,870.

"End of month (dollar) demand is currently driving the market but the shilling is also echoing developments in the euro zone," said Dickson Musone, manager of treasury and sales, KCB Uganda.

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.