Ugandan shilling falls due to demand for dollars K
Post# of 28526
Posted On: 04/17/2013 8:00:13 AM
Ugandan shilling falls due to demand for dollars
KAMPALA (Reuters) - The Ugandan shilling fell 0.8 percent against the dollar on Tuesday, as an uptick in demand for the U.S. currency by commercial banks reversed a recent bullish run for the local unit. At 0918 GMT, commercial banks quoted the currency of east Africa's third-largest economy at 2,545/2,555, weaker than Tuesday's close of 2,535/2,545. "Demand for dollars in the interbank market has forced the shilling to lose some ground," said Anthony Ssengoba, a trader at Centenary Bank. ...
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