Friday, April 29, 2011

Shilling tumbles over food unrest

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The shilling yesterday slid for the second straight day against the dollar as businesses remained closed during a day of bloody street confrontations between security forces and civilians protesting against the rising cost of living. The local unit closed at 2380/85 from Thursday’s 2375/80. The shilling opened at 2362/67 on Friday morning before dropping some units as riots engulfed the city.

According to financial analysts at Standard Chartered Bank Uganda, the

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