Sunday, May 1, 2011

Shilling to bounce back after week of decline, says BoU

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The Uganda shilling could have registered a marginal loss against the dollar last week but Bank of Uganda says that the local unit will rebound this week. The dollar traded on an average 2373/2384 on Friday from Thursday’s 2370/2380.
According to the director of communications at the Bank of Uganda, the shilling posted a marginal loss due to an expected demand for corporate companies to pay off dividends to their share holders from outside countries.

“Prospects of the shilling to gain

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