NGO salaries strengthen shilling

The shilling traded flat yesterday, although some players said it may strengthen against the dollar in coming days with inflows payments of salaries by non-government organisations. 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 two-year Treasury

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