Central Bank changes worry forex market

UGANDA - The forex market has been unnerved by Bank of Uganda's decision to intervene discreetly rather than announce its specific actions in the market.

"Under the amended intervention methodology, BOU will no longer disclose the amount either being sold or bought in their announcements," an April 3 report of Citibank Uganda Ltd has said.

"Some interventions will be done on a discrete basis, with BOU approaching inter-bank players based on quotations on the Uganda Investment Service (UIS)," C

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