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Thursday May 26, 2011The Uganda shilling traded flat yesterday, although some players said it may strengthen against the dollar in coming days due to inflows to pay salaries with non-governmental organisations. At 10:50 GMT, commercial banks in Kampala quoted the local currency at 2,388/2,396 compared with Tuesday’s close of 2,385/2,395. “Inflows are expected to improve in the last week of the month to cater for salaries and other month-end obligations,” said a market research note by Barclays Bank Uganda. A sh95b two-year Treasury Bond was snapped up by investors yesterday and some traders had expected dollar inflows from offshore buyers to buoy the shilling.
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