Sunday, April 10, 2011

Shilling stabilises against dollar

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Great expectations in the country’s economy by foreign investors has helped the shilling to gain more strength, Bank of Uganda has said. On Friday the dollar sold at an average 2,340/2,360 compared to Thursday’s 2,345/2,365.

According to the Bank of Uganda director of communications, Elliot Mwebya, “Investors are expecting a lot out of the Tullow-Total-CNOOC oil venture. The development has brought a lot of positive speculation that the economy will remain stable”.


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