Friday, May 27, 2011

Uganda shilling seen strong next week

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Kenya’s shilling is likely to strengthen next week away from record lows against the dollar, while foreign investor interest in a debt issue in Uganda should also help to boost the currency there. The Uganda is likely to strengthen due to dollar flows from foreign investors interested in buying high-yielding government securities. Commercial banks in Kampala quoted the shilling at 2,388/2,393 against the dollar, slightly weaker than last Thursday’s 2,383/2,388.

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