Ugandan shilling in firm place, seen weaker on Central Bank policy move

Ugandan shilling in firm place, seen weaker on c.bank policy move

The Ugandan shilling was trading stable on Tuesday but players were expecting some weakening as the central bank’s easing of monetary policy starts to weigh on market sentiment.

At 1122 GMT commercial banks quoted the shilling at 3,600/3,610, unchanged from Monday’s close. The bank of Uganda on Tuesday cut its benchmark rate to 9.5 percent from 10 percent.

Full article at www.kitco.com

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