BOU forex strategy may be paying off

UGANDA - The Bank of Uganda's (BOU) new strategy of intervening into the foreign exchange market without disclosing amounts sold, seems to be working, reports New Africa News.

Following recent interventions, the shilling has remained firm and is expected to open business this week trading within the same margins as those of last week.

"Due to uncertainty of the magnitude of the central banks intervention in the market, most corporate customers have opted to stay out of the market and speculato

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