Uganda: Shilling Weakens Against the Dollar

23 August 2012

The Ugandan shilling fell almost 1 percent against the dollar on Thursday, hitting a 2-1/2-month low due to a rise in greenback demand from commercial banks and offshore investors offloading their holdings in government securities.

At 1105 GMT commercial banks in Kampala quoted the currency of east Africa's largest coffee exporter at 2,517/2,527, much weaker than Thursday's close of 2,490/2,500.

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