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Article: Uganda : Shilling could end year at 1700 to the dollar.
- Article from:
- TendersInfo
- Article date:
- November 12, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
Buoyed by returning off-shore investors especially in the oil sector, increased remittances from Ugandans working abroad, and inflows from exports, the shilling has appreciated 25% against the dollar over a six months ending October 31.
Globally the dollar has seen some depreciation lately, against other currencies. It was trading at Shs 1,850 at end of October.
But in what could be either bad news or good depending on whether you are an exporter or an importer, a buyer or seller of dollars, analysts are predicting that the shilling could rise as high Shs 1,700 to the dollar by year end.
Kenneth Kitariko, the ...