Thursday, April 28, 2011

Shilling in marginal fall against dollar

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BY JUMAH SSENYONGA

The shilling yesterday ceded ground marginally against the dollar after about two weeks of gains. Commercial banks and major foreign exchange bureaus quoted the local unit at 2370/ 2380 from Wednesday’s 2360/2370. But Bank of Uganda director of communications Eliot Mwebya described the marginal fall as a normal. “The central bank was in the market last week and sold some dollars. We expected the shilling to calm down. The back and forth dollar movements are just a

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