Buy-Import-Export Premium Grade UGANDA VANILLA BEANS                           Buy-Import-Export Un-Refined Raw SHEA BUTTER 

Uganda Shilling set to strengthen

Wednesday June 1, 2011

The Ugandan shilling strengthened slightly against the dollar on Tuesday, a day before a bond auction that may bring foreign investors back into the country’s debt market after weeks of protests.

Commercial banks quoted the local currency at 2,390/2,395 to the dollar from Monday’s close of 2,393/2,398.

The East African coffee producer’s currency has been flat against the dollar through several weeks of political unrestover rising inflation that now seem to be fizzling out.

Central bank has intervened to keep the shilling from falling to the psychologically important 2,400 level per dollar during the trouble.

“The T-bill auction tomorrow could also be a factor and that would mean the shilling staying at about current levels today,” Lucas Ochieng, treasurer at Orient Bank Uganda, said.

Foreign investors are expected to invest in Treasury bills today.

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


feel free to ask our business travel consultants.

Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.